Flutter Entertainment reported earnings of £ 1.4 billion during 2020

Flutter noted that annual revenues grew 59% in Australia, the market least affected compared to 2019, and 8% in the online division Paddy Power and Betfair, based mainly in Great Britain and Ireland.

On the other hand, revenue was down 28% at its UK property, with stores closed 36% of the year, while revenue in Ireland was down 46%, with stores closed 40% of the time.

Referring to the 2020 results, Peter Jackson, CEO, highlighted the growth in its presence in the United States thanks to the merger with The Stars Group, the launch of the online sportsbook FanDuel in four more states (Colorado, Illinois , Iowa and Tennessee), among others.

More specifically, he highlighted that the group consolidated its leadership position in this market, “with customer economics that continue to exceed our
expectations, finishing the year as the first US online operator to reach over $ 1.1bn in gross gaming revenue ”.

Regarding responsible gaming, Jackson reaffirmed the group's commitment to “with customer economics that continue to exceed our expectations, finishing the year as the first US online operator to reach over $ 1.1bn in gross gaming revenue”, for which they have implemented tools and improved predictive technology. Likewise, he agreed with the Government's review of gambling legislation, and comments that he supports a balanced framework that “l protect vulnerable customers while allowing the many who enjoy a bet to continue to
do so safely ".

Other important aspects of Flutter Entertainment's financial report are as follows:

• 19% growth in recreational players across the Group
• US Online Leadership Retained with 40% Sports Betting and 20% Gaming Market Share in Q4 2010
• Record Super Bowl LV with 350,000+ Sports Betting and Gaming Customers Acquired, Exceeding 2019 Total Customer Acquisition in 1 Week
• The growth in reported revenue and reported Adjusted EBITDA reflects the addition of TSG as of May 2020
• Proforma online revenue of £ 5,035 million, 34% more than in 2019, constituting 96% of the Group's total revenue
• Pro-forma cash increase of £ 817 million in 2020 after IDEs and interest and before share placement.
• Strong momentum in 2021 with growth in player volume across all divisions
• Favorable sporting results relative to expectations, especially in the UK and Ireland
• Group income + 36% year-on-year in the first 7 weeks of the year (until February 21)
• Covid restrictions impacting retail business in the UK and Ireland with an estimated monthly EBITDA loss of £ 9m for every month UK and Irish commercial properties are closed.
• The proposed tax change in Germany would reduce the contribution by between £ 15 million and £ 25 million in 2021 if introduced from 1 July.
• Revenue increased 8% to £ 1.094bn in Flutter's PPB Online division, driven by 6% growth in the monthly average of players to 1.4 million.

Read Flutter’s Full Financial Report (2020)