Stock Take

Booming US market offers chance for further Flutter growth

The gambling giant is investing heavily in the US market and expects strong returns over the long-term

The US market, where its revenue was up 40.7 per cent last year, has become a major focus for Flutter

There was a time when results from the Cheltenham Festival could impact the share price of Paddy Power.

These days the horse racing event doesn’t get a mention in the Flutter results.

On a call with reporters last week, the company’s chief financial officer, Paul Edgecliff-Johnson, briefly mentioned that Cheltenham had been a “stressful week” but one it was “marginally in the black” after.

Rather than focusing on the festival, the company was eager to highlight the US market, which has become a major focus for Flutter, when it released its annual results for 2023 on Tuesday.