Paddy Power owner Flutter to delist from London Stock Exchange

Flutter follows another Irish-headquartered firm, CRH, in exiting the UK capital for New York

The Irish gambling group that owns Paddy Power and Betfair is to scrap its listing on the London Stock Exchange, in another blow for the UK’s shrinking stock market. Picture: PA

The Irish gambling group that owns Paddy Power and Betfair is to scrap its listing on the London Stock Exchange, in another blow for the UK’s shrinking stock market.

Flutter Entertainment, the world’s largest online betting company, told investors that it would cancel its London shares on 3 August, blaming low levels of trading in the stock and high costs.

The former FTSE 100 business, which is valued at £15bn (€17.38bn), moved its primary stock market listing from London to New York in 2024, after growth in its US FanDuel operation and as several US states loosened online betting restrictions.

Flutter told shareholders in May that it would review its position in London. On Friday, the company said 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 it is in the best interests of the company and its shareholders to proceed with the LSE delisting”, it said in a statement.

It is 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.

Another Irish headquartered company, building materials group CRH, delisted from London this year, with its shares now listed only in New York, having previously delisted from Euronext Dublin in September 2023.

The £8bn fintech company Wise, which was founded in London in 2011, moved its main listing from the UK capital 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 agreed to take-private deals this year.

Flutter employs about 28,500 people around the world.

Its shares in London have lost about half their value in the 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, where people can “trade” or place wagers on what might happen 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.

Flutter reported in February that its revenue had risen 17% in 2025 to $16.4bn (€14.17bn), though that was below its forecast of $16.7bn (€14.4bn).

Guardian