Flutter and 888 set to report results amid US listing and takeover rumours

Meanwhile, its London rival 888 is reportedly batting away approaches from potential suitors and will update markets on Wednesday with its full-year results.

Analysts are expecting 888 to report revenue of £1.71bn and adjusted pre-tax profit of £26m during the year.

According to a Sunday Times report in December, 888, which owns the Mr Green and William Hill brands, last summer rejected a bid worth about £700m from Playtech, another London-listed gambling company.

888’s market value on Friday was just under £360m.

Alongside the results on Wednesday, investors will be keen to hear about any other bids that might have been made for the business.

Flutter will take its shares to the US markets on the last Monday of January.

The company has said that its New York Stock Exchange listing will not impact its inclusion in the FTSE 100.

It wants to recognise the fact that about 40 per cent of the company’s revenue now comes from the States.

US investors will be familiar with the company’s FanDuel subsidiary which offers bets on the biggest US sports leagues, horse racing and online casinos.

“Flutter’s FanDuel is a familiar brand to many US domestic investors,” Ivor Jones and Douglas Jack at Peel Hunt said last month.

“The shares offer them exposure to a fast-growing, local market leader with a cash cow international business. We expect increased demand and solid trading to drive up the shares.”

At the time, the Peel Hunt analysts upgraded Flutter’s shares from hold to buy, saying that they expect the company’s shares to reach 16,000p. They were trading at about 12,800p on Friday.

Sky Betting & Gaming has a large base in Wellington Place, Leeds.

Commenting in November on its third quarter performance, Peter Jackson, chief executive of the company, said: “The group had another strong quarter in Q3, and even in this seasonally quieter period the power of our diversified business is clear with revenue growth of 13 per cent

“We remain the number one choice for sports betting and gaming customers globally, and our 16 per cent growth in average monthly players augurs well for our continued growth and market leadership.

He added: “Overall, the significant potential for US growth and ability to leverage scale benefits across our diversified portfolio outside of the US underpins our confidence in our significant and sustainable long-term earnings growth potential.”