Flutter Entertainment Finalizes NYSE Listing and Announces New CFO
Flutter Entertainment has successfully transitioned to a primary listing on the New York Stock Exchange (NYSE), which led to the departure of group chief financial officer (CFO) Paul Edgecliffe-Johnson.
Flutter Entertainment completes move to New York Stock Exchange (NYSE).
LISTEN TO THIS ARTICLE:The announcement of Flutter’s plans to list shares on the NYSE came in December, initially targeting a secondary listing. This plan evolved when shareholders approved the relocation of its primary listing to the US in May.
Targeting the End of May
Efforts have been underway to meet the target of listing by the end of May, and today’s (31 May) news confirms that Flutter has achieved this goal. This transition followed the transfer of Flutter’s listing category on the Official List of the Financial Conduct Authority from a ‘Premium Listing’ to a ‘Standard Listing’.
Despite the shift to the NYSE, Flutter shares will continue to be eligible for and trade on the Main Market of the London Stock Exchange (LSE) within the Standard Listing segment.
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 as the clear number one operator, and we look forward to this next step on our journey.
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A Change of CFO
Alongside this transition, Flutter has announced the departure of Paul Edgecliffe-Johnson as group CFO, effective immediately.
Due to the US primary listing, Flutter’s board discussed with Edgecliffe-Johnson the “extensive” executive management time required in the US, considering his family commitments in the UK. As a result, it was decided that it was in the best interests for Edgecliffe-Johnson to step down from his role. He will also vacate his position as executive director.
Rob Coldrake, previously the CFO of Flutter International since 2020, will assume the role of group CFO. Coldrake brings extensive experience, having spent 14 years in various financial positions at TUI Travel and a stint at PricewaterhouseCoopers.
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