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
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.