US growth drives Flutter Entertainment's return to profit

Flutter Entertainment’s (FLTR) penetration of the US gambling market is paying off, judging by the Paddy Power and Betfair owner’s half-year results. The group’s Stateside business (FanDuel) turned profitable, driving overall cash profits up by three-quarters to £765mn. And an additional listing across the Atlantic is moving closer. The culmination of the shareholder-approved plan is expected to come late in the fourth quarter of this year or early in the first quarter of next, and there is the possibility of the primary listing ultimately moving over the Atlantic, another kick in the teeth for a struggling London market.