Tuesday October 20, 2020

Revenue at gambling giant grows by half during pandemic

Flutter reports that loss of live sport was offset by 380 per cent increase in gaming intake in first half of 2020

27th August, 2020
Paddy Power owner Flutter acquired more than 350,000 customers in the US during the first six months of the year. Picture: Getty

Revenue at Flutter grew by 49 per cent to £1.52 billion in the first half of the year despite the shutdown of sporting events due to the Covid-19 pandemic.

The gambling giant, which owns Paddy Power and Betfair, this morning reported adjusted earnings before interest, taxation, depreciation and amortisation (Ebitda) of £342 million for the six months to the end of June 2020. This compared to a 59 per cent increase on the figure of £216...

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