{"id":123835,"date":"2022-05-04T07:40:30","date_gmt":"2022-05-04T07:40:30","guid":{"rendered":"https:\/\/www.i-conseils.fr\/index.php\/2022\/05\/04\/flutter-brands-fanduel-its-hyper-growth-child-as-costly-uk-headwinds-mount\/"},"modified":"2022-05-04T08:39:19","modified_gmt":"2022-05-04T08:39:19","slug":"flutter-brands-fanduel-its-hyper-growth-child-as-costly-uk-headwinds-mount","status":"publish","type":"post","link":"https:\/\/www.i-conseils.fr\/index.php\/2022\/05\/04\/flutter-brands-fanduel-its-hyper-growth-child-as-costly-uk-headwinds-mount\/","title":{"rendered":"Flutter brands FanDuel its hyper-growth child as costly UK headwinds mount\u00a0\u00a0\u00a0"},"content":{"rendered":"

Flutter brands FanDuel its hyper-growth child as costly UK headwinds mount\u00a0\u00a0\u00a0
\n \n<\/p>\n

F<\/em><\/strong>lutter Entertainment Plc<\/em> <\/strong>has secured a \u2018positive start to year trading\u2019 as the FTSE100 betting group expands its recreational player base to \u2018+8.8 million active monthly players (AMPS)\u2019 across its global brand portfolio mitigating UK and Euro market headwinds.<\/span>\u00a0<\/span><\/p>\n

Publishing its Q1 trading update (period ending 31 March), Flutter registered group revenues of \u00a31.56 billion, up 6% on comparative Q1 2021 results of \u00a31.48 billion.<\/span><\/p>\n

Topline growth was attributed to \u2018excellent US execution\u2019 as the\u00a0FanDuel<\/strong> unit recorded revenue growth of 45% to \u00a3430 million (Q1_2021: \u00a3288m).<\/span><\/p>\n

\"\"<\/a>
Peter Jackson \u2013 Flutter Plc<\/figcaption><\/figure>\n

Group CEO Peter Jackson<\/strong> disclosed that FanDuel had surpassed all trading expectations following successful launches in the states of New York and Louisiana\u00a0 \u2013\u00a0\u00a0 \u201cwith the US unit now accounting for over half of all stakes of Flutter Group\u201d as US market wagers totalled \u00a35.7 billion.<\/span><\/p>\n

\u201cIn the US, FanDuel delivered another excellent performance with 2.4m customers and revenue of \u00a3429m ($574m),\u201d Jackson remarked on US results.<\/span><\/p>\n

\u201cWe remained the number one US sportsbook with a 37% online sports betting share. We acquired over 1.3 million new customers in the quarter and similar to the trends seen in Q1 2021, some of our key promotional mechanics led to reduced market share, particularly around the SuperBowl.\u201d<\/span><\/p>\n

FanDuel\u2019s hyper-growth helped offset tough home market UK-&-Ireland conditions, which saw Flutter register a 20% downturn in online revenues to \u00a3453 million (Q1_2021: \u00a3568m).<\/span><\/p>\n

A breakdown of home market impacts saw Flutter\u2019s UK online portfolio absorb \u00a330 million in incremental costs related to safer gambling measures introduced over the past 12-months of trading.<\/span><\/p>\n

Further burdens saw Flutter\u2019s flagship UK-&-Ireland sportsbook brands (Betfair<\/strong> and Sky Bet<\/strong>) register a 32% decline in revenue matched against favourable 2021 comparatives.<\/span><\/p>\n

Despite Q1 trading delivering few home market comforts, Flutter was positive of a 15% increase in AMPS to 3.6 million \u2013 figures that will be bolstered by the addition of Tombola UK.<\/strong>\u00a0\u00a0<\/span><\/p>\n

\u201cWe continue to sharpen our sports product with the launch of \u2018Buildabet<\/em>\u2018 and \u2018Acca Assist\u2019 in SkyBet. On the gaming side, Sky Vegas launched \u2018The Vault\u2019 and we continue to see good recreational player growth with gaming AMPs up 9% on a pro forma basis,\u201d Jackson noted on UK&IRE performance.<\/span><\/p>\n

\u201cWe believe that our increased focus on product and efficiency will set the division up well for the future.\u201d<\/span><\/p>\n

Elsewhere, Flutter continues to benefit from the \u2018growth momentum\u2019 of its Sportsbet Australia<\/strong> unit, which registered an 8% increase in revenues to \u00a3291 million.<\/span><\/p>\n

Sportsbet AUS continues to benefit from \u2018structural improvements in margin driven by our in-house pricing capabilities\u2019, as Flutter proclaims the brand as Australia\u2019s leading mass-market sportsbook proposition.<\/span><\/p>\n

Closing its update, Flutter disclosed disrupted trading for its PokerStars International<\/em> <\/strong>unit that registered a 5% revenue decline to \u00a3327 million.<\/span><\/p>\n

As communicated to shareholders, PokerStars performance reflected the unit\u2019s temporary exit from the Netherlands, tax changes in Germany and full exit from Russia<\/span><\/p>\n

Jackson concluded: \u201cOutside of the US, our business performed well, adapting to the evolving regulatory and trading environment and reflecting the benefits of our global diversification. In the UK and Ireland, we launched several new products in the quarter.<\/span><\/p>\n

\u201cI look forward to the imminent release of the UK Government\u2019s White Paper on its review of the Gambling Act. In Australia, Sportsbet delivered good growth from ongoing customer-driven momentum, with excellent retention of players acquired in 2021. Our International business benefitted from strong performance in focus markets and we hope to complete the Sisal acquisition in Q3.<\/span><\/p>\n

\u201cWith our enlarged recreational customer base, winning position in the US and ongoing focus on sustainable growth, our business remains well placed for the future.\u201d<\/span><\/p>\n

\u00a0<\/p>\n


\nSource: SBC News<\/p>\n","protected":false},"excerpt":{"rendered":"

Flutter brands FanDuel its hyper-growth child as costly UK headwinds mount\u00a0\u00a0\u00a0 Flutter Entertainment Plc has secured a \u2018positive start to year trading\u2019 as the FTSE100 betting group expands its recreational player base to \u2018+8.8 million active monthly players (AMPS)\u2019 across its global brand portfolio mitigating UK and Euro market headwinds.\u00a0 Publishing its Q1 trading update (period ending 31 March), Flutter registered group revenues of \u00a31.56 billion, up 6% on comparative Q1 2021 results of \u00a31.48 billion. Topline growth was attributed to \u2018excellent US execution\u2019 as the\u00a0FanDuel unit recorded revenue growth of 45% to \u00a3430 million (Q1_2021: \u00a3288m). Peter Jackson <\/p>\n","protected":false},"author":2,"featured_media":123836,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[13],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.i-conseils.fr\/wp-content\/uploads\/2022\/05\/Screen-Shot-2018-05-02-at-09.02.24-1.png?fit=320%2C358&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6D2Px-wdl","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts\/123835"}],"collection":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/comments?post=123835"}],"version-history":[{"count":1,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts\/123835\/revisions"}],"predecessor-version":[{"id":123837,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts\/123835\/revisions\/123837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/media\/123836"}],"wp:attachment":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/media?parent=123835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/categories?post=123835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/tags?post=123835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}