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Flutter Entertainment reported revenue growth of 38%

Gambling giant Flutter Entertainment reported a return to first-half profitability on Wednesday, after a period of substantial growth, particularly in the United States.

Flutter Entertainment has revealed its US business reached a “profitability inflection point” during the first half.

Flutter hauled in $1.1 billion in unaudited revenue in Q1 in the U.S. alone while sports betting profits jumped 116% YoY.

Gambling giant Flutter Entertainment reported a boost in revenue for the first quarter of 2023 as a result of its continued expansion drive in the US. The

Paddy Power owner Flutter Entertainment hailed a "very strong" US performance on Wednesday as it posted a rise in first-quarter revenues.

Flutter reported a 54% increase in revenue for the first quarter of its 2023 financial year, primarily due to growth within its US business.

Gaming giant Flutter has added more than 1.5m customers in the first three months of the year, a 30pc increase on last year.

In the three months to the end of March, Flutters revenue increased by 46 per cent from the same period a year earlier to £2.4billion. Sports revenue was up 53 per cent to £1.5billion.

Flutter has announced it received “very strong support” from shareholders for its proposed additional listing of ordinary shares in the US.