Flutter Entertainment Sees Revenues Rise in Q1

Gambling operator Flutter Entertainment has released its trading update for Q1 2022. It showed that revenue increased by 6%, which the company said was largely due to recreational players, with average monthly players up 15%.

The figures from the US were especially impressive with revenue up 45% year-on-year to $574 million. Sportsbook revenues in the US increased 89%, and Flutter has said that its iGaming growth is partly due to launching in Connecticut in Q4 2021.

In the UK and Ireland, revenue fell by 20% while AMPs were up 15%. This is due to a number of factors, such as the introduction of new safer gambling measures, sports results, and a decline from peak player engagement in Q1 2021 during the Covid-19 lockdown.

In Australia, revenue from Sportsbet was up 8%, mainly due to an increase in the number of customers, while AMP was up 10%, thanks to the retention of customers from 2021.

Flutter delivered a positive Q1 performance with revenue growth of 6%. The quarter saw us launch our new global sustainability strategy, the Positive Impact Plan, aligning commercial goals with our commitment to support our customers, colleagues and the communities in which we operate.

Peter JacksonFlutter CEO

Jackson described FanDuel as delivering “unparalleled scale” in the US with the region accounting for more than half of all stakes placed with the Flutter Group in Q1. He also highlighted the launch of FanDuel in New York and Louisiana in January and in Ontario in April.

According to Jackson, this year’s March Madness was the company’s most successful yet, with 19 million bets placed during the tournament.

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