Flutter Entertainment, the owner of Paddy Power and Betfair, has announced it will scrap its listing on the London Stock Exchange (LSE), dealing another blow to the UK's shrinking stock market.
Why Flutter Is Leaving London
The world's largest online betting company, valued at £15bn, told investors it would cancel its London shares on 3 August. The decision was driven by low trading volumes and high costs associated with maintaining the LSE listing.
Flutter moved its primary stock market listing from London to New York in 2024, following growth in its US FanDuel operation and as several US states loosened online betting restrictions.
In May, Flutter informed shareholders it would review its London position. On Friday, the company stated the delisting was based on "the level of trading activity in its shares on the LSE as well as the additional cost, and regulatory and administrative obligations arising from retaining the LSE listing."
The business concluded that delisting was "in the best interests of the company and its shareholders."
Trend of Companies Leaving London
Flutter's exit is the latest high-profile departure from London's stock market as companies increasingly turn to the US, where valuations and executive pay can be higher.
- The building materials group CRH delisted from London this year, now listed only in New York.
- The £8bn fintech company Wise, founded in London in 2011, moved its main listing to New York in May.
- A rising number of companies are also leaving London after private takeover deals. This week, ingredients business Tate & Lyle agreed to a £2.7bn takeover by US rival Ingredion.
- The asset manager Schroders, insurer Beazley, and laboratory testing company Intertek have agreed to take-private deals this year.
Flutter's Performance and Challenges
Flutter, operationally headquartered in New York, employs about 28,500 people worldwide. Its London shares have lost about half their value year-to-date, as fears grow that prediction markets in the US could disrupt traditional betting.
Platforms like Kalshi have become popular in the US, allowing users aged 18 and older to wager on outcomes in pop culture, politics, weather, sports, or any real-world event with an uncertain outcome. Kalshi is available in all 50 states.
In February, Flutter reported 17% revenue growth in 2025 to $16.4bn (£12.2bn), though this was below its forecast of $16.7bn.
