Flutter Considering Spinoff and IPO of U.S. Betting Unit FanDuel
- U.K. gaming company says final decision on IPO yet to be made
- CNBC reported pressure on company to consider separate listing
Photographer: Andrew Harrer/Bloomberg
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Flutter Entertainment Plc said it is looking at options for its U.S. sports betting business FanDuel Inc., including an IPO, the U.K.-based mobile gaming company said in a statement.
It is considering a listing in the U.S. of a “small shareholding” in FanDuel, but has yet to make a final decision, Flutter said. CNBC reported Friday that the company was under pressure to examine a spinoff and share sale of the unit from some investors, who have expressed frustration that Flutter is trading at a discount to DraftKings Inc. despite FanDuel’s status as the largest competitor in the U.S.