Flutter Entertainment revenue up 37% for year ended 31 December 2021
Flutter Entertainment has reported group revenue of £6.04bn ($8.11bn) in its preliminary results for the year ended 31 December 2021.
The total represents a 37% year-on-year increase. Group EBITDA declined by 6% to £723m. The operator explained that the growth in revenue was aided by the combination with The Stars Group (TSG) in May 2020, with EBITDA declining due to increased US investment and International regulatory impacts.
The company reported a loss before tax of £288m, after a £543m charge for non-cash amortisation from acquired intangibles. Net debt meanwhile at 31 December 2021 was £2.65bn.
Flutter also provided an outlook for the coming months, noting that trading in the first seven weeks of 2022 has been in line with expectations, with group revenue climbing 2% year-on-year. The operator added that it expects revenue growth to accelerate as the year progresses.
“2021 was another strong year for the group as we made good progress against our strategic objectives and grew our recreational customer base to over 7.6m customers,” said Flutter Entertainment Chief Executive Peter Jackson.
“Yesterday we launched our new sustainability strategy, our ‘Positive Impact Plan’, which will see Flutter set a positive agenda for future change. Through this strategy we will build on the significant progress already made in areas such as safer gambling and measure our performance against defined goals to demonstrate how we are responsible leaders in our industry.
“Overall, I am pleased with the progress we have made during 2021 and believe Flutter is exceptionally well positioned for future growth.”
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