Gambling

Paddy Power-owner Flutter posts rise in profits as US expansion continues

Adjusted earnings rose to €1.15 billion at the Dublin based multinational

Today’s statement reported that revenue in the US grew by 67 per cent to €2.92 billion with active US customers exceeding 3 million for the first time at the end of last year

Paddy Power-owner Flutter Entertainment has reported higher full-year revenues and profits, after winning 2 million new monthly customers through acquisitions and newly legalized sports betting in US states.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) rose to €1.15 billion, the Dublin-based company said in a statement on Thursday.

The company which grew from a chain of bookmakers shops in Ireland established in the late 1980s has seen a rapid customer growth in recent ...