Flutter has continued to expand its global enterprise, adding new operations in Greece, the US, and other countries. It has also targeted several high-profile acquisitions, including the $2.2 billion deal for Italian lottery operator Sisal.
Despite its growth, the company slipped in the first quarter. Online revenue in the UK and Ireland dropped by 20% from its mark a year ago. In contrast, land-based sports betting operations in the region improved, with the segment almost reaching its pre-COVID-19 level.
Compared to 2019, prior to the pandemic, Flutter’s UK betting shops delivered revenue just 6% lower. In Ireland, the figure is off by 24%. It could remain the same or drop, as consumers tighten their belts over cost-of-living increases.
A battle for position in Australia is coming, but Flutter CFO Jonathan Hill isn’t concerned. The company’s Sportsbet arm controls almost 50% of the sport betting market, giving it solid control.
The impending launch of sports betting operations by a consortium that includes News Corp Australia may threaten that position. However, Hill is confident the company will hold on to its lead.
Despite its growth, the company slipped in the first quarter. Online revenue in the UK and Ireland dropped by 20% from its mark a year ago. In contrast, land-based sports betting operations in the region improved, with the segment almost reaching its pre-COVID-19 level.
Compared to 2019, prior to the pandemic, Flutter’s UK betting shops delivered revenue just 6% lower. In Ireland, the figure is off by 24%. It could remain the same or drop, as consumers tighten their belts over cost-of-living increases.
A battle for position in Australia is coming, but Flutter CFO Jonathan Hill isn’t concerned. The company’s Sportsbet arm controls almost 50% of the sport betting market, giving it solid control.
The impending launch of sports betting operations by a consortium that includes News Corp Australia may threaten that position. However, Hill is confident the company will hold on to its lead.