Flutter Entertainment reports 99% growth in revenues

Revenues at Flutter Entertainment have soared 99% in the past six months.

In the six months to 30 June, revenue increased from £1.53bn to over £3bn.

Pre-tax profits also soared by 221% from £24m to £77m.

“In the US, we remain the number 1 online sports betting operator by some distance thanks to the quality of our products and the extensive reach of the FanDuel brand. The customer economics we are seeing in the US bode very well for the future,” said Peter Jackson, the group’s chief executive.

“In the UK and Ireland, integration is progressing well with our three brands benefiting from shared learnings across product and operations.”

Despite the impressive results, shares in Flutter Entertainment have fallen over the past year.

The group said there was a loss of 50.4p per share, which is down from 18.1p per share at the start of last year.