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Flutter reports increase in revenue

Flutter reports increase in revenue
In the third quarter of 2020, Flutter reports £1,33 bilions in revenue.
by Academia   |   comments 0
Monday, November 16 2020

Betting holding company Flutter Entertainment, a company created after Betfair merged with Paddy Power, presented interesting data this week, reporting an increase in its gaming and sports revenues.

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The biggest growth this quarter came from sports revenue, with an increase of 32% compared to last year period. Values jumped from £ 606 million to £ 798 million. 
Regarding games, the company also showed positive data. Turnover was £ 527 million in this third quarter, an increase of 21% compared to £ 436 million in 2019. 
According to the statement issued by the company, these figures represent for Flutter an increase in revenue of around 30%. 
Among some platforms, we can highlight Paddy Power's 32% increase in revenue, in addition to the 26% increase in profit from Sky Betting & Gaming (SBG).
In the Australian market the data is significant. After the migration of BetEasy customers to Sportsbet, the quarter registered a 76% increase in revenue. But the numbers don't stop there. In the US, there was an 82% increase compared to 2019, with £ 161 million being injected. There are almost 2 million customers actively using real money on the platforms. 
Peter Jackson, CEO of Flutter Entertainment, did some analysis on the numbers' increases in the third quarter. Among his statements, Jackson said: “We are a global company now, with significant scales. We are in a position that we want to respond to the many growth opportunities that we see in our markets.”
flutter entertainment, sports betting, sports betting revenue