Stock Take

Stock Take: Flutter’s move to Wall Street is no gamble

A bullish trading update last week led to a spike in the Paddy Power-owner’s share price and it could keep rising when the company lists in New York

Racing at Punchestown, April 2023: Flutter’s revenue in Ireland and Britain last year was £2.4 billion, up 15 per cent year on year. Picture: Sportsfile

Shares in Gambling giant Flutter, which owns Paddy Power, soared last week after the company said it expects to report total group revenue of £9.5 billion (€11 billion) for 2023.

By Friday shares in the group were up over 23 per cent since Monday.

It comes just ahead of the Paddy Power-owner’s listing on the New York Stock Exchange at the end of January.

In doing so it joins CRH, the Dublin-headquartered building materials giant, ...