The strategies of the most important industrial groups are changing, and major transformations are, first of all, financial. The move by European igaming giant Flutter, which entered the New York Stock Exchange, needs to be read in this light.
The US is increasingly volatile, even on the stock market
Globalization is talked about a lot because it is what we have been experiencing for at least a few decades, but there are also dynamics that do not change. For example, if a large European group aims to enter the market of another continent, something needs to be done first at the financial level. case Flutter, Europe’s igaming giantHe visualized the USA.
It’s no secret that the online gaming market is booming in the USA, and this cannot leave indifferent such big names as the Flutter group, which includes global brands such as PokerStars and Betfair, as well as the very powerful Italian Sisal. Europe and North Africa. Thus, since last January 29, Flutter is listed on the New York Stock Exchange.
Operations began with the cancellation of Flutter’s secondary listing on the Irish stock exchange Euronext Dublin. However, the premium listing remains on the London Stock Exchange (LSE) under the symbol “FLTR”. Instead of NYSE, New York Stock ExchangeFlutter shares trade under the symbol “FLUT.” The next step will also be moving the main roster to the Big Apple.
US between elections and a booming market
Flutter’s ambitions in the US market are clear and even understandable, and a financial consolidation in New York would be an indispensable basis for improving the profile of the group that could have access to markets. including institutional investors with very large capital. In fact, it is no secret that many governors transfer significant amounts of revenue to the treasury, as allowed by online gaming regulations.
However, on the other hand, there is a big unknown called the “Presidential Election”. Americans will be urged to vote next November elect new presidentand it is known that Markets fear Trump’s new victory. The businessman’s aggressive financial policies will come at a very high cost, as Wall Street fears, but these are balances that are difficult to predict, let alone control.
But the Flutter group is following its own path and doing extremely good things. Peter Jackson, the group’s CEO, thinks the move to the NYSE is very important as it will make life easier for US-based investors. Then we must not forget that Flutter owns relative majority stake in FanDuelIt is already a leader in the US betting and daily fantasy sports market.