Flutter considering spinoff and IPO of U.S. betting unit FanDuel
Ireland-based Flutter Entertainment said in a statement on Monday that it was considering listing "a small shareholding in FanDuel" in the US but stressed that "no decision has been made at this time."
The London-listed bookmaker confirmed the television news report, according to several other media reports, saying in a statement: "Flutter regularly evaluates its organisational and capital structure to assess how best to position itself to deliver upon the group's strategy.
"Options including the listing in the US of a small shareholding in FanDuel are being considered but no decision has been made at this time. Should a decision be made to proceed with a listing in due course, an announcement will be made as appropriate."
CNBC said the stake held by Fox Sports in FanDuel is a complicating factor that may delay any spinout, citing people familiar with the matter. Flutter owns 95% of FanDuel. Fox Sports has a 2.5% stake in FanDuel with an option to buy an additional 19% in July.
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