Flutter Entertainment reported revenue of £3.1 billion (US$4.29 billion) for the first half of 2021, an increase of 30% from the year-ago period.
Profit before tax grew 221% to £77m, net debt was reduced by 7%, with average monthly players growing by 40%.
Flutter reported revenue growth of 159% to £652 million for its US operations, with over 2.2 million customers acquired since the launch of sports betting.
In a statement, the company said: “Flutter enjoyed a very strong first half of 2021 with excellent revenue growth driven by rising average monthly players (AMPs).”
“We cement our leading market share in each of our key markets, continuing to make substantial investments focused on the customer, our products, brands and value propositions.”
“In the US, we have maintained our leading position due to the strong execution and quality of our product offering.”
UK and Irish AMPs grew 44% in the period, with “integration progressing well”, while Australian AMPs grew 52%, driven by “very high customer retention rates”.
“The first half of 2021 exceeded our expectations as we made substantial progress toward our operational and strategic goals while maintaining an excellent momentum in growing our player base,” said Peter Jackson, CEO of Flutter Entertainment.
“Our global sports business has benefited from further enhancements to our products and a return to more normalized sports calendars, while maintaining our strong gaming performance despite the challenging comparatives established last year.”
“In the US, we remain the number one operator in online sports betting thanks to the quality of our products and the broad reach of the FanDuel brand. The customer savings we are seeing in the US bodes well for the future with the first FanDuel customers generating a positive return in the first 12 months of acquisition”, concludes Jackson.
