Flutter-backed Fox Bet to close

The joint venture with Fox Corporation formed part of the Paddy Power-owner’s US operations

Peter Jackson, chief executive of Flutter, has previously stressed the business will keep its headquarters in Dublin. Picture: Fergal Phillips

Irish betting firm Flutter Entertainment and broadcaster Fox Corporation have announced the closure of Fox Bet, a US sports betting platform.

A phased closure of the betting business will take place between July 31 and August 31.

Fox Bet contributed just 3 per cent to Flutter’s revenue of £2.6 billion (€3 billion) in the US last year.

Fox had initially partnered with the Stars Group, then a Canadian owned business, to launch Fox Bet in ...