Two weeks ago, it was reported by the Indian Wire, that the Flutter Entertainment is considering to go for Initial Public Offering (IPO) for FanDuel.
The hint of the same was given in last month in mid-March when Peter Jackson, CEO of Flutter Entertainment issued the statement at this prospect.
However, questions have started emerging as the FanDuel’s Chief Executive Officer Matt King has announced that he is going to step down from his position.
The concerns were fanned when the parent company of FanDuel, the Flutter Entertainment commented about King’s departure: “As previously announced, the Flutter Board has been assessing the potential merits of listing a small stake in FanDuel in the U.S. Whilst Matt’s departure will affect the timing of any potential U.S. listing, the Board will continue to keep this option under review,” the statement said.
FanDuel has grown to be one of the biggest online daily fantasy sports operator in the United States, and is likely to go for listing in the US markets.
As per Gambling.com, Flutter CEO Peter Jackson said: “I would like to take this opportunity to thank Matt for his considerable contribution in helping to make FanDuel the U.S. market leader it is today. FanDuel has achieved so much in the three years since PASPA was repealed and that is due in no small part to Matt’s leadership and the strong team built around him.”
He added: “While we will be sorry to see him leave, he leaves the business in great shape. We are starting the process of looking for a new CEO for FanDuel and we remain focused on maintaining our leadership position in the U.S. market.”