Share Prices & Company Research

Market News

15 Mar 2021 | 07:01

Flutter considering spinoff for FanDuel brand

(Sharecast News) - Gambling company Flutter said it was considering spinning off its FanDuel business to cash on the growing US sports betting market. Responding to media speculation, the owner of Paddy Power and Betfair, said it "regularly evaluates its organisational and capital structure to assess how best to position itself to deliver upon the group's strategy".

"Flutter "Options including the listing in the US of a small shareholding in FanDuel are being considered but no decision has been made at this time. Should a decision be made to proceed with a listing in due course, an announcement will be made as appropriate."

The US is increasingly opening up to sports betting as 19 states, including New York and Texas, prepare this year to vote on legalising mobile sports betting.

Flutter now owns 95% of FanDuel after investing in the firm in 2018 with Fox Sports holding another 2.5% of the brand.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 14th May 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.