Flutter Entertainment‘s trading on the London Stock Exchange (LSE) has come to an end.

The Irish-American gambling multinational declared that its shares on the LSE were cancelled as of 8am Monday 3 August, on schedule with its delisting announced back in June.

Flutter had been deliberating on whether to close up shop in London for some time, with the topic reraised by leadership following Q1 financials. Upon deciding to delist in June, 31 July was announced as Flutter’s last full day of LSE trading.

From now on, Flutter shares will only trade on the New York Stock Exchange (NYSE). Flutter first listed on the NYSE in January 2024, and decided to make America’s largest stock market its primary listing in May of that year.

As the owner of the FanDuel sportsbook – one of the two largest online sportsbooks in the US alongside its main rival DraftKings – Flutter counts the American markets as key revenue generators.

Q1 financials saw revenue up 17% year-over-year to $4.3bn (£3.5bn), with the $1.76bn in US revenue accounting for 41% of the total figure.

With the quarter once again hammering home how Flutter’s business is now led by the US markets, leadership confirmed discussions about the future of its London listing were underway.

Flutter departure another blow to LSE?

Flutter has a long history on the LSE, dating back to when Irish-founded Paddy Power launched on the exchange back in 2000 to support its then-still-early UK expansion plans.

The company would later merge with Betfair in 2016 to create Paddy Power Betfair (PPB). 

When the US Supreme Court repealed PASPA in 2018, opening the door for states to launch regulated betting markets, PPB moved quickly and acquired FanDuel, then one of the two biggest daily fantasy sports (DFS) platforms in the US alongside DraftKings. In 2019, PPB rebranded as Flutter Entertainment.

The FanDuel acquisition marked the beginning of Flutter’s US journey, leading to the final LSE delisting today.

Despite being known for some time now, Flutter’s departure from the LSE marks another blow to the UK’s stock exchange, especially at a time when the government, under new Prime Minister Andy Burnham, faces enormous pressure to bring about economic growth.

Outside of gambling, the stock exchange has seen a range of firms either delist, approve buyouts by US companies or shareholders, or snub it entirely when launching an IPO and choosing the NYSE instead, as Swedish BNPL giant Klarna did in 2024.

It may not be all bad for the LSE, however. Time will tell if Allwyn, operator of the National Lottery, opts to shift its primary listing there, though the Swiss-based lottery multinational is also weighing up a NYSE listing as it continues to grow its own North American presence.

Last week, meanwhile, saw FTSE 100 financial services giant IG Group gain considerable ground in the US via its takeover of prediction market and DFS firm Underdog in a rare win for the LSE.

And on the topic of takeovers, Flutter’s decision to move all its shares exclusively to the NYSE comes amid American-born, Cayman Islands-based businessman Kenneth Dart increasing his share of voting rights in the firm to over 29%.

Dart has also been increasing his share of voting rights in Swedish gaming tech firm Evolution. He now holds 30%, requiring him to make a formal takeover bid under Swedish  law.

As Flutter is an Irish-founded business with a Dublin HQ, Dart may need to do the same if he reaches 30% of Flutter voting rights as Irish takeover laws have a similar caveat to Sweden with a 30% threshold.