Paddy Power owner Flutter mulls ditching London listing after shift to US

Paddy Power and Betfair owner Flutter has said it is considering fully delisting from the London stock market in a blow to the City after shifting its focus to the US.

The sports betting and gambling company said it was reviewing its shares on the London Stock Exchange and this may result in a decision to cancel the listing.

Flutter switched its primary stock market listing from London to New York in 2024 although kept a secondary listing on the LSE.

This followed rapid expansion in the US through its FunDuel sportsbook business and as a raft of states loosened their gambling restrictions.

The company expects to update shareholders on the outcome of the review by the end of June.

It could mark the next exit for the LSE after building materials group CRH said it March it was planning to delist entirely after similarly switching its main listing to New York.

Other big businesses including fintech firm Wise, construction rental firm Ashtead, investment business Petershill Partners and drugmaker Indivior have either switched their primary listing away from the LSE or abandoned it entirely in recent years.

On the other hand, the LSE has benefited from new entrants, with companies like tuna maker Princes Group and small business lender Shawbrook launching their shares at the end of last year.

Meanwhile, financial results shared by Flutter showed its revenues soared by 17% to 4.3 billion US dollars (£3.1 billion) for the first three months of 2026, compared with the same period last year.

Sales were bolstered by online gaming growth and acquiring new brands last year.

However, Flutter said sports results continued to go in the favour of punters rather than bookies, which impacted its performance in markets including the UK.

The group reported adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) of 631 million dollars (£464 million) for the quarter, edging up by 2% compared with last year.