Follow Barron's in Apple News
Flutter Entertainment, parent company of online sports betting platform FanDuel, is about to make its New York Stock Exchange trading debut. But shares of its U.S. rival DraftKings should be able to withstand the competition stateside, analysts say.
In addition to FanDuel, the Ireland-based gambling business owns other sports-betting brands around the globe like Paddy Power, PokerStars, Sportsbet, and more.
On Monday, Flutter will complete a dual listing on the New York Stock Exchange under the ticker FLUT. This will allow American traders to buy stock in another major sports betting company—directly competing with DraftKings, Walt Disney’s ESPN Bet, MGM Resorts International, and Caesars Entertainment.
DraftKings didn’t immediately respond to a request for comment on the listing
https://stocks.apple.com/ADXUFhViXSiGH8G7PSHzoaQ