Bets off: Gaming giant Flutter, owner of brands such as Betfair, Fanduel and Poker Stars, is moving to the US on May 31.
Flutter shareholders have voted to abandon its main listing in London, dealing another blow to the City.
Some 98 per cent of shareholders backed moving the gambling group’s main listing to the US, downgrading its status in London.
The vote will not come as a surprise to many in the Square Mile after shareholder advisory groups Glass Lewis and ISS urged investors to support the move.
The FTSE 100 company, owner of brands such as Betfair and Poker Stars, will make a permanent move as early as May 31.
Flutter will maintain a secondary listing in London, although rules dictate it will no longer be on the FTSE 100.
It earns about 40 percent of its revenue in the United States.
The Dublin firm made its debut on Wall Street in January, seeking bigger cash reserves for investors when its boss Peter Jackson said New York was its “natural home.”
The move means the steady flow of businesses quitting in London has continued.
“Flutter is becoming an American company,” said Peel Hunt’s Ivor Jones. “It hopes the listing will improve its profile in the United States and make it easier to hire talent.”
