Flutter to end London secondary listing as costs and low trading volumes weigh

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Flutter ends London listing

Highlights

Flutter will delist its shares from the London Stock Exchange on August 3, citing low trading volumes and high regulatory costs after a strategic review.
Flutter's exit adds to several UK market departures—including Wise, Ashtead, and Tate & Lyle—amid firms seeking greater liquidity and opportunities in U.S. markets.
Flutter reported 2025 full-year revenue of $16.4 billion, up 17%, but missed its recent forecast of $16.7 billion after earlier guidance of $17.3 billion.

Strategic review drives London exit

As reported by Financial Times, Flutter says it plans to drop its secondary London listing after concluding that trading activity in its London-listed shares is too low to justify the added cost and regulatory burden.

The Paddy Power owner announced the decision on Friday, saying it had reviewed the level of trading in its shares on the London Stock Exchange, alongside the additional cost and administrative obligations of keeping the listing. The company says the move follows a strategic review it flagged last month with its first-quarter results.

Flutter, which was previously a member of the FTSE 100, moved its primary listing to Wall Street in May 2024. The delisting from London is expected to become effective from August 3.

Pressure on UK market and gambling sector

Flutter's decision adds to a broader run of departures from the UK stock market, as companies seek deeper liquidity in the U.S. market. Wise and Ashtead have also moved their primary listings to the U.S., while Tate & Lyle agreed last week to a 2.7 billion pound takeover by U.S. rival Ingredion that would result in its exit from the London Stock Exchange.

The group also faces pressure in its U.S. business from the rise of prediction markets, which are gaining ground in the 17 billion dollar American sports gambling market. In February, Flutter reported 2025 full-year revenue of 16.4 billion dollars, up 17% from the previous year but below its latest forecast of 16.7 billion dollars, after previously cutting guidance from 17.3 billion dollars in November.

In our earlier coverage of Brexit’s lasting economic impact, we looked at how the post-2016 reality has left the UK economy smaller than it would otherwise have been, even as some of the most severe pre-referendum forecasts did not play out as first predicted. We also noted that political “red lines” on relations with the EU limit the scope for a rapid reset, keeping investors focused on whether policy choices can meaningfully improve the UK’s longer-term growth outlook.

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