NYSE Now the Primary Home for Flutter Entertainment Trading

Article by : Erik Gibbs Jun 4, 2024

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Flutter Entertainment has recently undertaken a significant transition by moving its primary listing from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE).

Despite this move, Flutter’s shares will still be available for trading on the LSE’s Main Market under the Standard Listing segment. Reflecting this change, the Financial Conduct Authority has adjusted Flutter’s listing category from “Premium Listing (commercial company)” to “Standard Listing (shares).”

In a related development, Flutter has appointed Rob Coldrake as its new Group Chief Financial Officer, effective immediately. He will succeed Paul Edgecliffe-Johnson. The decision was driven by discussions about Edgecliffe-Johnson’s ability to manage his executive responsibilities in the US while managing family commitments in the UK.

The board concluded that it was in Edgecliffe-Johnson’s best interest to step down. Given his extensive background in finance and familiarity with Flutter’s operations, Coldrake’s appointment is seen as a strategic fit.

Rob Coldrake joined Flutter in 2020, initially serving as CFO of Flutter International. His professional journey includes 14 years in various financial roles at TUI Travel, and he began his career at PricewaterhouseCoopers. This wealth of experience is expected to be instrumental as Flutter navigates its growth trajectory in the competitive US market.

CEO Peter Jackson has emphasized the strategic importance of the NYSE listing, pointing out Flutter’s robust position in the US market, particularly through its leading operator, FanDuel. Jackson expressed confidence in Coldrake’s ability to seize significant opportunities that lie ahead.

Jackson commented, “I am delighted that Rob will become our next Group CFO. During his four years at Flutter, he has shown himself to be a CFO of exceptional caliber, and his skills and experience will help us take advantage of the significant opportunities before us.”

John Bryant, Chair of Flutter, also endorsed Coldrake’s promotion, expressing the board’s satisfaction in elevating a high-caliber executive from within the organization. Bryant also extended well wishes to Edgecliffe-Johnson, acknowledging his valuable contributions, especially in securing the US primary listing.

The transition to the NYSE follows a shareholder resolution passed at Flutter’s Annual General Meeting earlier in the month, indicating strong support from its investors for the company’s US-centric growth strategy.

Flutter Entertainment’s recent decisions are poised to bolster its market presence and financial performance, aligning with its long-term goals of expansion and shareholder value maximization.