Flutter reports 33% revenue rise for Q1 2021

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Flutter reports 33% revenue rise for Q1 2021

Flutter Entertainment has reported revenue of £1.49bn ($2.08bn) for the first quarter of 2021, a 33% increase from the prior-year period.

The total was largely driven by online player growth, with the group’s average monthly players increasing 36% year-on-year globally to 7.7 million. Online revenue meanwhile accounted for $1.47bn of total revenue, a 42% increase from the prior-year period.

Sports revenue represented $896m of the total revenue, with gaming revenue accounting for $589m. The verticals had year-on-year increases of 41% and 22% respectively.

“2021 is off to a strong start for the group,” said Flutter chief executive Peter Jackson. “We continued to significantly grow our global player base which in turn drove a 42% increase in our online revenue.

“At the same time, safer gambling continues to be a key priority across our markets with new measures introduced including our Gamban partnership in the US and development of the planned Affordability Triple Step in the UK.”

Jackson also highlighted the operator’s US figures, saying: “We believe that the quality and breadth of our offering remains a key differentiator for FanDuel sports and the key driver of our leadership position. Our US business had over 1.6m average monthly players in Q1, meaning that it is now twice the size of our Australian business and is quickly closing in on our International division.”