Flutter Entertainment, the parent of FanDuel, is seeking avenues to expand its North American profile, and one option might be to get the sportsbook brand on a U.S. stock exchange.
“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,” a Flutters statement said.
Flutter acquired a 58 percent stake in FanDuel and helped turn the company from fantasy sports giant to sports betting behemoth. In December Flutter increased its stake in FanDuel to 95 percent. Flutter has become the top online operator with an 81 percent rise in U.S. revenues to $970 million, according to SBC News.
The latest revelation came in response to speculation about a FanDuel IPO to improve its arrangement with its U.S. partner, FOX Sports.
Flutter CEO Peter Jackson told investors FanDuel was 40 percent larger than DraftKings, its closest competitor.
Despite growth, the division reported a $237 million EBITDA loss, fueled by an expenditure of $480 million on sales and marketing costs alone.
Flutter expects to offer FOX Sports the option to increase its stake in FanDuel from 2.5 to 18.5 percent.
