Flutter reports £ 1.33 billion in revenue in the third quarter of 2020

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Flutter reports £ 1.33 billion in revenue in the third quarter of 2020

Flutter Entertainment reported £ 1.33 billion in total revenue for the third quarter of 2020 on a pro forma basis, an increase of 27% year on year.

Sports revenue for the quarter was £ 798 million, an increase of 32% compared to £ 606 million last year. Gaming revenue increased 21%, jumping from £ 436 million to £ 527 million in the third quarter of 2020.

According to the statement, Flutter’s revenue growth increased to 30%. The group’s online earnings rose 33% with a focus on sports. Paddy Power’s revenue growth was 32%, while Sky Betting & Gaming’s (SBG) profit jumped 26%.

In the Australian market, the BetEasy customer base was successfully migrated to the Sportsbet platform and recorded a 76% increase in revenue for the third half.

In addition, business in the U.S. injected £ 161 million, an 82% increase over 2019 with more than 1.8 million active real-money customers using the platforms.

Flutter Entertainment CEO Peter Jackson said: “Our strong trade has continued as we have increased market share in key regions, while maintaining our commitment to safer gaming practices. During the quarter, we continued to expand our recreational customer base and, at the same time, unite our businesses ”.

Jackson added: “We are now a truly global company with a significant scale. As such, we are in a unique position to respond to the many opportunities we see in our growing markets ”.

About Flutter

Flutter Entertainment is a betting holding company created by the merger of Paddy Power and Betfair, completed on February 2, 2016. On October 2, 2019, Flutter Entertainment announced that it would acquire Canadian gambling company The Stars Group for US $ 6.95 billion.