Revenue rises to €7.2 billion at owner Paddy Power

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According to year-on-year results, Paddy Power owner Flutter Entertainment saw its revenue grow 37pc last year to £6bn (€7.2bn), benefiting from the combination in October 5 in 2020 with The Stars Group, according to annual results.

Group earnings before interest, taxes, amortization and amortization (ebitda) fell 6 percent to £723 million (€865 million) following increased investment in the US market and regulatory impacts on its international market.

The average monthly player at the company increased by 23pc to 7.6 million.

Flutter reported a pre-tax loss of £288 million following a £543 million charge for non-cash depreciation from acquired intangibles.

In Ireland and the UK, the group said it maintained its lead with 29 per cent market share, despite a “challenging” fourth quarter. The company’s average monthly player count increased by 25pc, resulting in online revenue growth of 3pc in Ireland and the UK.

Peter Jackson, CEO of Flutter Entertainment, said: “2021 is yet another strong year for the team as we make good progress against our strategic goals and grow our award winning customer base. position to more than 7.6 million customers,” said Peter Jackson, CEO of Flutter Entertainment.

https://www.independent.ie/business/irish/revenue-increases-to-72bn-at-paddy-power-owner-41397084.html Revenue rises to €7.2 billion at owner Paddy Power

Fry Electronics Team

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