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FinancialSports Betting

Flutter reports 30% increase in H1 2021 revenue

Flutter Entertainment has reported revenue of £3.1bn ($4.29bn) for H1 2021, a 30% increase from the prior-year period.

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Profit before tax grew 221% to £77m, net debt reduced by 7%, with average monthly players growing 40%.

Flutter reported revenue growth of 159% to £652m for its US operations, with over 2.2 million customers acquired since launching sports betting.

“Flutter enjoyed a very strong first half of 2021 with excellent revenue growth driven by increased average monthly players (AMPs),” a statement from the operator read. “We have cemented our leading market share in each of our core markets by continuing to make substantial customer-focused investments in our products, brands and value propositions. 

“In the US, we have maintained our leadership position due to strong execution and the quality of our product offering.”

UK and Ireland AMPs grew 44% for the period, with “integration progressing well,” while Australian AMPs grew 52%, driven by “very high customer retention rates.”

“The first half of 2021 exceeded our expectations as we made substantial progress against our operational and strategic objectives while maintaining excellent momentum in growing our player base,” said Flutter Chief Executive Peter Jackson.

“Our global sports businesses benefited from further enhancements to our products and the return to more normalised sporting calendars, while we sustained our strong performance in gaming despite the challenging comparatives set last year.

“In the US, we remain the number one online sports betting operator by some distance thanks to the quality of our products and the extensive reach of the FanDuel brand. The customer economics we are seeing in the US bode very well for the future, with early FanDuel customers generating positive payback within the first 12 months of acquisition.”

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