Flutter Entertainment (LSE:FLTR), the online sports betting and gaming operator, has confirmed it will delist from the London Stock Exchange on 3 August, ending a London presence that stretches back to Betfair's flotation in 2010 and leaving the company trading solely on the New York Stock Exchange.
The decision, following a listing review launched on 7 May, is the same conclusion reached by every major company that has gone through this exercise in recent years: low trading volumes on the LSE, duplicated compliance costs and administrative burden make a secondary London listing hard to justify once the centre of gravity has moved to New York.
Flutter shifted its primary listing to the NYSE in May 2024, with nearly 98% of shareholders approving the move. Since then, London has functioned as a residual venue, with the bulk of trading and investor attention concentrated in the US.
The pattern is now familiar. Building materials group CRH completed its own LSE delisting on 20 April 2026, just weeks after announcing it, having similarly concluded that a secondary London listing no longer served a purpose after moving its primary listing to New York in 2023.
Equipment rental group Ashtead, whose US operations trade as Sunbelt Rentals and generate around 98% of group operating profit, announced plans to make the same transition in late 2024. Fintech firm Wise and plumbing group Ferguson made comparable moves before them.
The most pointed rejection of London came earlier still, and from a company that never gave the exchange a chance.
When Cambridge-based chip designer Arm Holdings chose to list solely on Nasdaq in 2023, three prime ministers had lobbied personally for a London role in the flotation. Arm's chief executive said the company remained proud of its British heritage before heading to New York anyway, where the company was valued at around $60 billion at IPO.
AstraZeneca has so far stopped short of a full departure, adding a direct NYSE listing in February 2026 while retaining its presence in London and Stockholm. But the direction of travel has not been lost on observers: the UK's most valuable listed company sought access to American capital markets and now trades across three exchanges, with the long-term question being whether London liquidity holds its share.
For Flutter, the economics were straightforward. Its investor base is overwhelmingly American, its most important asset is FanDuel, the leading US sports betting brand, and its reported revenue for fiscal 2025 reached $16.4 billion, up 17% year-on-year. Retaining a secondary London listing for a company of that profile and that orientation had become an exercise in compliance rather than capital raising.
The company said 31 July will be the last day of LSE trading. Flutter has published guidance for depositary interest holders and set up shareholder helplines to manage the transition.
