Flutter Entertainment posts £2.4bn in first quarter revenue

Finance News

Flutter Entertainment said a “very strong performance” in the US drove a 46% increase in first-quarter revenue.

The owner of FanDuel, Paddy Power and Betfair said total revenue rose to £2.4bn in the three months ended 31 March 2023 from £1.6bn a year prior, with Sports revenue up 53% to £1.5bn and Gaming revenue up 35% to £916mln.

The FTSE 100-listed firm pointed out the average number of monthly players of 12.3mln was up 30%.

In the US, revenue soared 92%, including sportsbook revenue growth of 147% as the business took a 50% share of the sports market in the quarter, up 14 percentage points year-on-year, while iGaming revenue growth was 43% with market share up to 23% from 21% in the fourth quarter.

Reflecting on the recent White Paper in the UK, chief executive Peter Jackson said: “The changes will bring consistency to safer gambling protections for customers and make responsible play a priority across all operators, which we strongly support.”