Paddy Power owner Flutter to scrap London Stock Exchange listing

Flutter Entertainment, the gambling group behind Paddy Power and Betfair, has announced it will cancel its listing on the London Stock Exchange (LSE) on 3 August, dealing another blow to the UK’s shrinking stock market. The company, valued at around £15bn, told investors that low trading activity on the LSE and the high costs of maintaining the listing, including regulatory and administrative burdens, drove the decision.

Flutter moved its primary listing from London to New York in 2024, driven by the growth of its FanDuel business in the US and the loosening of online betting restrictions in several states. In May, the company said it would review its London position, and on Friday it confirmed the delisting, stating it is “in the best interests of the company and its shareholders”.

The delisting is the latest high-profile exit from London’s stock exchange as companies increasingly turn to the US, where valuations and executive pay can be higher. CRH, a building materials group, delisted from London this year, and fintech firm Wise moved its main listing to New York in May. A growing number of companies are also leaving after private takeover deals; this week, ingredients firm Tate & Lyle agreed to a £2.7bn takeover by US rival Ingredion.

Flutter, operationally headquartered in New York, employs about 28,500 people worldwide. Its London shares have lost roughly half their value year-to-date amid fears that prediction markets in the US, such as Kalshi, could disrupt the traditional betting industry. The company reported in February that revenue rose 17% in 2025 to $16.4bn, though this was below its forecast of $16.7bn.