Paddy Power owner Flutter to scrap listing on London Stock Exchange

Gambling business, which also owns Betfair, to focus on New York in latest high-profile blow to UK stock market

The gambling group that owns Paddy Power and Betfair is to scrap its listing on the London Stock Exchange, in another blow for the UK’s shrinking stock market.

Flutter Entertainment, the world’s largest online betting company, told investors that it would cancel its London shares on 3 August, blaming low levels of trading in the stock and high costs.