Flutter's US Unit FanDuel Posts Profit Ahead of New York Listing
Flutter Entertainment Plc, the parent company of FanDuel, reported a profit for its US business in the first half of the year. This comes as the company prepares for a public listing of its shares in New York.
For the first half, the US adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) stood at £49 million ($63 million). This figure surpasses the average estimate of £28.4 million as predicted by analysts surveyed by Bloomberg.
Based in Dublin, the gambling behemoth anticipates the secondary listing to take place either late in the fourth quarter of this year or early in the first quarter of the upcoming year. Furthermore, there’s potential for the company to shift its primary listing from London to New York.
Flutter also mentioned that the early trading for the second half of 2023 aligns with their expectations.
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