Flutter: Firm behind Sky-Bet and Paddy Power weighs up delisting from London Stock Exchange
Betting giant Flutter has announced the launch of a review which could eventually see the firm delist from the London Stock Exchange.
It came as the company, which is behind brands including Paddy Power and Leeds-based Sky Bet, trimmed its guidance for the full year and announced a drop in profits.
Flutter announced in 2024 that it was moving its primary listing to the New York Stock Exchange, just months after it announced the US listing.
The company has now told investors that it is launching a review of its listing on the London Stock Exchange.
The firm said in its announcement: “We are undertaking a review of our London Stock Exchange listed ordinary shares.
“The conclusion of this review may result in the delisting of Flutter's ordinary shares from the LSE. It is anticipated that this review will be completed during Q2 2026 and an update to shareholders will be provided in due course.
“The NYSE listing of Flutter ordinary shares will not be impacted by the possible cancellation of the LSE listing.”
It comes after the Confederation of British Industry warned last year that the UK financial services sector was facing a “pivotal moment” due to the exodus of firms from the London Stock Exchange.
Announcing its results for the first quarter of 2026, Flutter said it had taken a hit from “unfavourable” sports results as the firm told investors it now expects group revenue of around $18.3bn (£13.4bn) for the full-year, down from previous guidance of $18.4bn (£13.5bn).
The firm, which has a large office in Leeds, said new state launch costs in Arkansas had also led to it updating its guidance.
It came as the New York and London-listed company saw its profit before income taxes fall from $354m (£259.9m) in the first quarter of 2025 to $234m (£171.8m) in the same period this year. Revenue lifted 17 per cent to $4.3bn (£3.16m).
Speaking on the results, Peter Jackson, Flutter CEO, said: “The core fundamentals of our business remain strong, and I am confident that we have the right strategy, structure and global portfolio of local hero brands to capitalize on the significant long-term growth opportunity ahead. I look forward to further progress as we move through the rest of 2026."
He added that the firm’s first quarter performance had been “encouraging”.
The announcement of the firm’s results review also came as Flutter released details of a shake-up in the management of its FanDuel subsidiary.
The company announced that FanDuel chief executive officer, Amy Howe, had left the firm, with Christian Genetski, president of FanDuel, set to assume responsibility for leading the firm.
Flutter also announced that Dan Taylor, chief executive officer of its international division, will take on the newly created role of president at Flutter Entertainment, while continuing to lead the firm’s international business.
Speaking on the results, Mr Jackson added: ““With significant growth potential ahead, we have decided this is the right moment for new leadership at FanDuel. I would like to thank Amy for her contribution to Flutter and FanDuel and recognize the impact she has had on the business since joining in 2021.”
Ms Howe said it had been a “privilege to lead FanDuel over the past five years”.
She added: “I’m incredibly proud of the business we’ve built and the talented team behind it, as well as the entertainment experiences we deliver to our customers every day.”