Flutter’s planned self-regulation to cost company €100m

New initiatives are set to lower revenues from online gambling in Britain and Ireland by 6 per cent to £1.952 billion

Peter Jackson (pictured), Flutter’s chief executive, and Jonathan Hill, the group’s chief financial officer, said that the company would look to act before a wide-ranging review of Britain’s Gambling Act which is set to impose strict new regulations on the sector. Picture: Bryan Meade

Flutter Entertainment’s plans to tackle addiction among its customers, and stricter regulation, will cost the Paddy Power-owner more than €100 million, according to analysts.

Reduced forecasts for the largest company on the Irish stock market last week wiped out an estimate of 4 per cent growth in 2021 and 8 per cent growth in 2022. The revisions, by Davy Research, move the expected Ebitda (earnings before interest, taxes, depreciation, and amortisation) down to £1.279 billion ...