Company Watch

Flutter strategy pays off in US, winning 50 per cent of online sports betting market

Dublin-based multinational gambling company’s US division ‘well placed’ to turn a profit this year

Peter Jackson, chief executive of Flutter “It was compounded when the Premier League came back and we saw a flurry of the favourites winning, so that cost us a lot of money at the back end of last year.” Picture: Fergal Phillips

Paddy Power owner Flutter Entertainment has heralded an “earning transformation point” in its United States strategy, as analysts have praised the success of its approach to the American market.

Peel Hunt analysts said the Dublin-based multinational gambling firm was “number one and trying harder” in the US, having won 50 per cent of the online sports betting market in the country, and said it was “well placed to become profitable this year”.

Goldman Sachs analysts ...