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29 April 2021 | 07:16am
StockMarketWire.com - Gambling company Flutter Entertainment reported a rise in revenue in the first quarter of the year thanks to an increase in monthly players.
For the 3 months ended 31 March 2021, revenue rose 41% to £1.47 million year-on-year as the average monthly players increased 36%.
Sports betting revenue was up 41% and gaming revenue was up 22%. Our US business had over 1.6m average monthly players in Q1, meaning that it is now twice the size of our Australian business and is quickly closing in on our international division, the company said. We are continuing to consider our options with respect to a possible US listing of a small shareholding of FanDuel Group. No decision has been made at this time and we will update the market as appropriate, it added.
Flutter accelerates global growth profile as US options are weighed up Share
April 29, 2021
Flutter Entertainment Plc has cited confidence in delivering on its full-year 2021 financial expectations by continuing to establish its individual brands as outright leaders in each active marketplace.
Publishing its Q1 trading update, the FTSE100 gambling group recorded double-digit growth across all core divisions, as its monthly average active customer base increases by 36% to 7.6 million (Q12019: 5.6m).
Providing a topline overview of its Q1 trading results, Flutter recorded group revenues of £1.4 billion – up 32% on corresponding 2020 results of £1.12 billion – after registering period sports betting revenues of £896 million (+43%) and group gaming revenues of £589 million (+18%).
What is the FTSE 100?
The FTSE 100 is a stock index that tracks the 100 largest publicly-traded companies listed on the London Stock Exchange (LSE). The companies are ranked by market capitalisation – the combined value of the FTSE 100 is worth more than 80% of the entire LSE’s market cap.
The FTSE 100 is used as a benchmark for the economic health of the UK. If the price of the index rises, the constituents share prices are rising, which generally indicates a positive economic situation. Whereas a falling FTSE is a sign that the companies (and the wider economy) are experiencing a period of contraction.
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