Yesterday, Flutter began trading on the New York Stock Exchange (NYSE), making a grand entrance with a large poster and banner unveiled at the exchange. This move signifies a major turning point for sports betting investment in the US, according to Ed Birkin, senior analyst at H2 Gambling Capital.

Flutter announced its plans to list its shares on the NYSE by 29 January 2024, keeping to that schedule and marking a significant moment for the industry. Birkin notes that stocks listed in the US typically trade at a higher valuation than those in London, and the strong reputation of Flutter’s name makes it an appealing investment for US investors.

The listing on the NYSE is expected to boost Flutter’s status in the US, where it already has a strong foundation. This move positions the company to capture the potential growth in the US online sports wagering and igaming market, attracting interest from investors.

Listing on the NYSE also opens the door to more potential investors, drawing attention to the company as it cements its place in the US market. While competing companies like DraftKings and BetMGM may not be directly impacted, Flutter’s move could turn the heads of some investors and provide a clearer comparison between businesses.

Despite the focus on US expansion, Birkin believes that product and technology offerings are more important than a company’s location. He also suggests that Flutter’s plans to prioritize the NYSE may not drastically alter its market share in the US, given its strong positioning and performance in the region.

Looking ahead, Flutter’s primary goal remains to consolidate its position as a market leader in the US, particularly in the igaming space. This strategy aligns with previous successful market growth stories, as companies like Paddy Power and William Hill expanded their online businesses alongside their sports heritage.

FanDuel, a leader in US sports betting, is expected to follow a similar trajectory, maintaining its leadership in sports wagering while accelerating growth in the igaming market. Ultimately, Flutter’s listing on the NYSE signals its commitment to pursuing opportunities for investment and growth in the US market in the coming year.

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