Flutter Entertainment has completed its entry into the New York Stock Exchange, which has been coupled with the appointment of a new CFO.
Betting Firm Flutter Marks Entry Into New York Stock Exchange With New CFO Appointment
As a result of Flutter Entertainment switching to a primary listing on the New York Stock Exchange, CFO Paul Edgecliffe-Johnson has been relieved of his duties with immediate effect.
In December 2023, Flutter confirmed its decision to list shares on the NYSE, as the company looked for a secondary listing – which picked up speed in May as shareholders opted to move its primary listing into the United States.
The goal was to finalize the move by the end of May 2024, and as of May 31st the company has confirmed that this goal has been reached.
Activity in the London Stock Exchange is still ongoing, as Flutter shares are still open to trade and these shares can be found in the Standard Listing sector.
CEO of Flutter, Peter Jackson, spoke about the switch from the London Stock Exchange to New York – labelling the move as a ‘milestone’ for the company.
He said (Via Flutter): “Today marks an important milestone in the evolution of Flutter with the commencement of our primary listing on the NYSE.
“This closely follows the recent move of our operational headquarters to New York. Both reflect the increasing importance of the US sports betting and igaming market to our business.
“We have a fantastic position in the US, with FanDuel the clear number one operator, and we look forward to this next step on our journey.”
FanDuel is one of the leading operators in North America and primarily offers sports betting markets in Kansas.
As previously mentioned, this transition has brought a change in the board of Flutter, as Rob Coldrake will replace Edgecliffe-Johnson as the new CFO.
The former CFO will also exit his role as executive director of business and this comes as Edgecliffe-Johnson has family commitments in the United Kingdom.
In relation to this confirmation, Flutter has announced that Edgecliffe-Johnson is leaving as group CFO with immediate effect from today.
Rob Coldrake has plenty of experience as a CFO, working in the same role at Flutter International since 2020 and working in several financial roles over a 14-year period.
Flutter CEO, Peter Jackson said (Via Flutter): “During his four years at Flutter, Rob has shown himself to be a CFO of exceptional calibre. His skills and experience will help us to take advantage of the significant opportunities before us.
“I would like to thank Paul for his contribution to the group, particularly in relation to achieving our US primary listing, and I wish him and his family well.”