BlackRock’s increased stake in Flutter Entertainment may signal closer London delisting

(AsiaGameHub) –   BlackRock, the world’s biggest asset management firm, has increased its shareholding in Flutter Entertainment to 5.12%.

This update comes just days after Flutter, which had a share price of £68 on the London Stock Exchange as of the time of writing, published its 2026 first-quarter results, which included confirmation that the company is evaluating its listing status on the London Stock Exchange.

Since January 2024, the parent company of Paddy Power, Sky Bet, Betfair and FanDuel has held a dual listing, after it launched trading on the New York Stock Exchange.

In May of that same year, it shifted its primary listing to the NYSE to capitalize on the expanding US market, while also recognizing the rising significance of FanDuel to its operations. With that move, it gave up its spot on London’s prestigious FTSE 100 index.

But now a full delisting from London appears to be a clear possibility, after Flutter stated as part of its Q1 results: “We are conducting a review of our ordinary shares listed on the London Stock Exchange.

“The outcome of this review may lead to the delisting of Flutter’s ordinary shares from the LSE.”

The scope of Flutter’s US operations

The US is now by far Flutter’s largest market, generating $1.76 billion in the most recent period, equal to roughly 41% of its total 2026 Q1 revenue.

It has a number of high-profile transatlantic investors, including The Vanguard Group, US-based businessman Kenneth Dart and investment management company Capital Group.

During a recent fireside discussion, Chief Executive Officer Peter Jackson reaffirmed the importance of the US market for Flutter.

“When I look at the US market, I believe we are continuing to deliver very strong performance in the iGaming space,” he said.

“I think that segment of our business will continue to grow, and we are extremely well positioned to leverage our existing scale there.

“From a sports betting perspective, there were a small number of areas where we did not perform as well as expected last year. We have already identified those issues, acknowledged them, gotten on top of the problems, rolled out necessary adjustments, put our sports improvement plan into effect, and we are starting to see the benefits of those efforts come through now.

“Investors naturally want to see us keep delivering strong results, but we remain the largest operator in the US, we are profitable, and we are determined to not only get the business back into a leading position, but also regain our momentum to prove that we can keep growing our market share and support the expansion of the whole sector.”

Flutter expects to finish its review of its London listing within the current quarter, and confirmed that its NYSE listing will not be affected if the company decides to cancel its share listing in London.