Flutter Entertainment, the world's largest online betting company and owner of Paddy Power and Betfair, has announced it will scrap its listing on the London Stock Exchange (LSE), delivering another blow to the UK's shrinking stock market.
Delisting decision
The company, valued at £15bn, told investors it will cancel its London shares on 3 August, blaming low levels of trading in the stock and high costs. Flutter, which was formerly a FTSE 100 constituent, moved its primary stock market listing from London to New York in 2024, driven by growth in its US FanDuel operation and as several states loosened online betting restrictions.
In May, Flutter informed shareholders it would review its position in London. On Friday, the company stated that its decision to delist 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 proceeding with the LSE delisting is in the best interests of the company and its shareholders.
Trend of exits from London
Flutter's departure marks the latest high-profile exit 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, with its shares now listed only in New York. The £8bn fintech company Wise, founded in London in 2011, moved its main listing from the City to New York in May.
A rising number of companies are also leaving London's stock market after agreeing to private takeover deals. This week, the ingredients business Tate & Lyle agreed to a £2.7bn takeover by its US rival Ingredion. The asset manager Schroders, the insurer Beazley, and the laboratory testing company Intertek have all agreed to take-private deals this year.
Company operations and performance
Flutter, operationally headquartered in New York, employs approximately 28,500 people worldwide. Its shares in London have lost about half their value year-to-date, as fears grow that the rise of prediction markets in the US could disrupt the traditional betting industry. Platforms such as Kalshi have become popular in the US, allowing users to "trade" or place wagers on outcomes in pop culture, politics, weather, sports, or any real-world event with an uncertain outcome. Kalshi is available in all 50 states to users aged 18 and older.
In February, Flutter reported that its revenue rose 17% in 2025 to $16.4bn (£12.2bn), though this was below its forecast of $16.7bn.
