FanDuel owner Flutter Entertainment Plc said it expects to sell shares on the New York Stock Exchange in the first quarter as the gambling group seeks to raise its profile in its biggest market.
It has filed its SEC application and plans to delist from Euronext Dublin at around the same time as the share sale, the Dublin-based company said in an earnings statement on Thursday. Revenue was £2.04 billion ($2.5 billion) in the third quarter, missing the £2.15 billion average estimate of analysts surveyed by Bloomberg.
Flutter, which is also traded in London, has already received shareholder approval for the listing and says the plan will help expand its access to talent and capital.
Read More: Flutter’s US Unit FanDuel Turns Profit Before NYC Listing
Earnings from sports betting in the period were affected by unsurprising sporting results, which are more favorable to bettors than bookmakers.
The company said it expects full-year adjusted earnings before interest, tax, depreciation and amortization of £140 million in the US, in the middle of its previous range of £90 million to £190 million. Outside the US, it sees adjusted earnings of £1.44 billion, at the low end of its previously guided range.
