Flutter Q1 revenues grow amid spike in monthly player numbers
Flutter Entertainment (DI)
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Bookmaker Flutter Entertainment saw group revenues grow in the three months ended 31 March as the number of average monthly players rose by 15% to 8.85m.
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Flutter said on Wednesday that total revenues had grown 5% year-on-year to £1.56bn, with sports revenue growing 4% to £930.0m and gaming revenues up 8% to £636.0m.
In the US, Flutter said "excellent execution" had seen it deliver revenue growth of 45% to $574m, with "continued strong customer economics".
The FTSE 100-listed firm stated revenue in its international division was 5% lower, reflecting the impact of expected headwinds in the quarter. However, excluding these headwinds revenue grew 6%, with strong growth in Canada, Brazil, India, Georgia, and Armenia.
Chief executive Peter Jackson said: "With our enlarged recreational customer base, winning position in the US, and ongoing focus on sustainable growth, our business remains well placed for the future."