Strong sportsbook and casino results in the US helped boost Flutter Entertainment during Q3 2019, with the better than expected performance raising full-year guidance.
Flutter, formerly Paddy Power Betfair, has daily fantasy sports site FanDuel at the forefront of a US focus that is now set to see a 2019 EBITDA loss in the States of £40-45m, versus the previously expected £55m. Excluding the US, the group’s EBITDA guidance remains unchanged at £420m-£440m.
Sports revenue was recorded at £417m for Q3 (£375m), with gaming revenue at £116m (£107m), for a combined total of £533m (£483m) representing growth of 10 per cent.
In Australia, the Sportsbet brand performed well over the quarter with revenues increasing by 19 per cent.
Last month, Flutter announced a £10bn merger with The Stars Group, the firm that owns the PokerStars and Sky Betting & Gaming brands.
Peter Jackson, Flutter’s CEO, said: "Q3 was an important quarter for the group, with revenues up 10 per cent and the announcement of our combination with The Stars Group.
“We believe that this deal will accelerate delivery of all of our core strategic objectives and we are very excited about the international growth prospects for the combined group.”
