Flutter Entertainment Plc expressed confidence in meeting its financial expectations for the year 2021 by continuing to make its individual brands absolute leaders in every active market.
Releasing its Q1 Business Update, Gaming Group FTSE100 saw double-digit growth across all major divisions, with its monthly average active customer base growing 36% to 7.6 million (Q12019: Q12019: 5.6 million).
Providing a snapshot of its first quarter business results, Flutter reported group revenue of £ 1.4bn – up 32% from the corresponding 2020 results of £ 1.12bn – after the recorded period sports betting revenue of £ 896 million (+ 43%) and group gaming revenue. of 589 million pounds (+ 18%).
Flutter’s flagship division for the UK and IREs Betfair, PaddyPower and Sky Bet The brands saw a 16% increase in revenue to £ 568million (Q12020: £ 489million) as continued digital growth helped it to pass another non-retail quarter in the UK / IRE.
Regardless of the foreclosure conditions, Flutter stressed that he was able to increase his market share in the UK and IRE as his average monthly active players increased 23% to 3.16 million.
“2021 is a good start for the Group,” said CEO Peter Jackson. “We have continued to significantly grow our global player base, resulting in a 42% increase in our online revenue.
“At the same time, safer gaming continues to be a key priority in our markets with new measures introduced, including our Gamban partnership in the US and the development of the planned triple stage for affordability in the UK. . “
In Australia, Flutter’s sport bets AUS The unit continued its double-digit growth profile, recording a 59% increase in revenue to £ 279m (Q12020: £ 161m) – Sportsbet benefiting from the migration of players from AUS retail to its platform.
In a difficult comparative context of “ staying at home ”, Flutter’s International (PokerStars) recorded a 7% increase in revenue to £ 351m (Q12020: £ 334m). Online poker saw a 9% drop in player activity, which Flutter says will be tempered by additional investments in marketing and product retention.
During the first quarter trading period, Flutter accelerated its growth profile in the US market, as well as new successful launches in the states of Michigan and Virginia.
Flutter’s US sports betting unit saw a 135% increase in turnover to £ 288million (Q12020: £ 132million) – providing a unit breakdown of Flutter’s FanDuel assets, which represented 91.6% of US sales (full year 2020: 89.1%), while FOX bet (including PokerStars US) accounted for 8.4%.
Concluding Flutter’s business update, CEO Peter Jackson released the following statement on FTSE Company’s U.S. strategic options.
He said: “We are continuing to examine our options for a possible listing in the United States of a small stake in FanDuel Group. No decision has been made yet and we will update the market as appropriate.
“As restrictions begin to ease and retail reopens in a number of markets, we remain confident that our diverse business leaves us well positioned for sustainable growth going forward.