The owner of Paddy Power has decided to scrap its London stock market listing, dealing a further blow to the City.
Flutter Entertainment, which switched its primary listing to New York in May 2024, said it would delist from the London Stock Exchange in August.
It follows a review announced in its quarterly results last month, as it warned that changes to gambling laws would lead to slower growth in its UK business.
The former FTSE 100 constituent concluded ‘it is in the best interests of the company and its shareholders’ to delist, blaming higher costs and regulation.
In an update to investors, Flutter said: ‘The company carefully considered, other things, the level of trading activity in its shares on the LSE as well as the additional cost, and regulatory and administrative obligations arising from retaining the LSE listing’.
