Richard Haywards Named as Betfair’s New Managing Director

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Flutter Entertainment has named Rich Hayward, managing director of its Betfair division. This new role follows Hayward's tenure as the commercial director for the UK and Ireland within Betfair since August 2019.

Hayward, a dedicated member of the Betfair team since September 2008, began his journey as a commercial graduate. Over the years, he's held various roles, eventually securing multiple director positions. Prior to this latest appointment, Hayward was integration director for the broader Paddy Power Betfair business.

The Betfair dream continues. The excitement and enjoyment are as big now as it was for me on day one back in 2008. The culture and the team are such a privilege to be part of and every day continues to be a thrilling education. With that, I’m thrilled to announce that I have been appointed managing director at Betfair for Flutter UK & Ireland. I’m excited to get going and looking forward to the opportunity.

Rich HaywardBetfair Managing Director

Flutter Reports Impressive 2023 Revenue

The news came in the same week as Flutter Entertainment reported a 25% increase in its year-on-year revenue to £9.51 billion.

This growth is largely attributed to the company's success in the US market, particularly with its FanDuel brand, which witnessed a 38% revenue increase, representing 37.9% of the company's total annual revenue.

The UK and Ireland markets also saw a 15% revenue increase, reaching £2.46 billion, while international revenue surged by 36% to £2.29 billion. Despite these positive trends, the Australian market posed challenges for Flutter, with an 8% decline in revenue, totaling £1.17 billion.

Flutter Expands while Board Changes

In a strategic expansion move, Flutter recently completed its acquisition of a majority stake in MaxBet, a prominent Serbian sports betting and gaming operator. This acquisition, valued at €141 million, was agreed in September 2023. Flutter explained that MaxBet's industry expertise and its potential to enhance customer experiences across the Balkans region make it a valuable contribution.

Earlier this month Flutter announced that Richard Flint, a key figure in the company's governance, will not seek re-election and is expected to depart following the company's AGM in May. Flint's association with the company began in March 2020, after the merger of Flutter and The Stars Group. His previous roles include serving as the executive chair of Sky Betting & Gaming until October 2019 and a decade-long tenure as CEO until the company's acquisition by The Stars Group in 2018.

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