BlackRock, the world’s largest asset management company, has upped its stake in Flutter Entertainment to 5.12%.
The announcement comes just days after Flutter, which at the time of writing has a share price of £68 on the London Stock Exchange, released its Q1 2026 results, which included confirmation that the business was reviewing its listing on the London Stock Exchange.
Since January 2024, the Paddy Power, Sky Bet, Betfair and FanDuel owner has been dual-listed, after it began trading on the New York Stock Exchange.
In May of that year, it moved its primary listing there to capitalise on the growing US market while also recognising the growing importance of FanDuel to its business. In doing so, it gave up its place on London’s prestigious FTSE 100.
But now a complete London delisting seems a distinct possibility, after Flutter said as part of its Q1 results: “We are undertaking a review of our London Stock Exchange listed ordinary shares.
“The conclusion of this review may result in the delisting of Flutter’s ordinary shares from the LSE.”
The scale of Flutter’s US operations
Flutter’s biggest market is now by far and away the US, most recently bringing in $1.76bn – around 41% of its entire Q1 2026 figure.
It has various big name transatlantic investors, including The Vanguard Group, US-born businessman Kenneth Dart and investment management firm Capital Group.
In a recent fireside chat, Chief Executive Officer, Peter Jackson, reiterated the importance of the US market for Flutter.
“I look at the US and I think we are continuing to execute very well in iGaming,” he said.
“I think that that is a part of the business which is going to continue to grow, and I think we’re incredibly well placed to use our scale there.
“I think from a sports perspective, there were a few things that we didn’t execute on very well last year. I think we’ve actually identified that, we recognise that, we’ve got to grips with it, we’ve made the changes, and we’ve got the sports improvement plan in place, and I think we’re beginning to see the benefits of that come through.
“Investors obviously want to see us continue to execute, but we are still the largest player in America, we’re profitable, and we’re determined to get the business not just back on the front foot, but we need to get our mojo back and show that we can keep growing our share and help grow the category.”
Flutter expects to complete its review of its London listing during this quarter, and stated that its NYSE listing will not be impacted should the business cancel its shares in London.