Flutter Entertainment Reports an Increase in Revenue

 Flutter Entertainment Reports
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Owner of Paddy Power, Flutter Entertainment, reported an increase in sales the previous year.

The behemoth anticipates £9.5 billion (€11 billion) in overall sales in 2023, a 24 percent rise from the previous year.

In 2023, revenues in the UK and Ireland climbed by 15% to £2.45 billion, while revenues in the US market surged by 38% year over year to £3.6 billion.

Over the course of the year, the average monthly player count increased by 20% to surpass 12.3 million.

The group also revealed an 11% increase in revenues in the last quarter of 2023 over the same period in 2022 in a trading update that was released today. The period’s revenues came to £2.67 billion.

According to Flutter, gaming income increased by 49% in the US market during the last three months of the year, despite a 33% increase in average monthly players.

Revenues in the United States for the quarter totaled £1.1 billion, up 19% from the same period in 2022.
Revenues in the UK and Ireland rose 19% to £647 million. The team ascribed this increase to advancements in the product.

Prior to the shares of Flutter being listed on the New York Stock Exchange on January 29, the company has also submitted its official registration statement to the US Securities and Exchange Commission.

On January 23, its stock will be taken from the Dublin market.

On March 26, the organization will release its annual report.

Chief executive Peter Jackson stated, “In the US, FanDuel consolidated its sports leadership position during the peak quarter for sporting activity, while FanDuel Casino went from strength to strength.”

“The underlying momentum in the business remains very strong heading into 2024, even though the November NFL results were very customer-friendly.”

The group’s success outside of the US, he continued, was “in line with expectations.”

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