Flutter Entertainment plc the owners and operators of heavyweight betting and gaming brands Betfair, Paddy Power, Sky Betting & Gaming and Pokerstars, have today posted their preliminary results for 2020, which show a year on year growth in revenue of 106% to £4.4bn.
The figures mentioned above to not include revenues from brands operated by The Stars Group who Flutter merged with on 5th May last year. Taking into account revenues accrued by brands which formerly made up The Stars Group, total revenues generated by Flutter Entertainment for 2020 rise to £5.246bn.
Commenting on the preliminary results for 2020, Peter Jackson Flutter Entertainment’s Chief Executive Officer said: “2020 was an historic year for the Group as we completed our merger with TSG, commenced the integration of our two businesses and increased our ownership of FanDuel in the US, whilst at the same time navigating the challenges presented by the Covid-19 pandemic.”
“Safer gambling is critical to building a sustainable global business and we are determined to lead the industry in implementing the highest standards of customer protection across our markets. This includes the UK, where we welcome the Government’s review of gambling legislation and support the delivery of a balanced framework that will protect vulnerable customers while allowing the many who enjoy a bet to continue to do so safely.”
“We delivered a very strong financial performance in 2020, benefiting from our scale and diversification. We continue to grow our recreational player base across all key regions, in Q4 alone the Group had over 7.6m monthly online players. Nowhere has our growth been more evident than in the US where we have consolidated our #1 position in this crucial market, with customer economics that continue to exceed our expectations, finishing the year as the first US online operator to reach over $1.1bn in gross gaming revenue.”
“During this exceptionally testing time, we have focused on safeguarding the welfare of colleagues and contributed more to the communities in which we operate. I would like to take this opportunity to thank all my colleagues for their ongoing commitment and resilience as we face these challenging times together. While the global outlook remains uncertain, our momentum remains strong and we look forward to the future with confidence.”