Betting group Flutter Entertainment PLC (LSE:FLTR) will provide a preliminary update on full-year trading next Thursday, 18 January.
However, it’s any news on the FTSE 100 firm’s intention to list on the New York Stock Exchange later this month that investors will likely be keeping an eye on.
Flutter firmed up plans in early December to ditch its secondary listing in Ireland in favour of a dual listing between London and New York.
This took place later in the month, with the new listing in New York being targeted for 29 January, Flutter said at the time.
Peel Hunt upgraded Flutter to a ‘buy’ rating soon after, suggesting a dip in the betting firm’s share price since plans for a dual-listing were announced last February had seen “initial excitement” overcome.
Ultimately, the Paddy Power and Sky Bet owner has planned the move to New York as its American asset base, including through sports book operation FanDuel, grows.
Indeed, Flutter updated that FanDuel represented the fastest-growing brand in the market in the US over the third quarter, as revenues for the US accounted for 40% of the group’s total income.
Following an over 50% jump in gaming revenue over the nine months to September, Flutter said US revenue and pre-tax earnings should come in at £3.75 billion and £140 million respectively for the year.
Outside of the US, full-year pre-tax earnings were forecast at £1.44 billion.