The company, owner of major brands such as Paddy Power, FanDuel, PokerStars, and Sportsbet, also reported that its recreational player base increased by 23% in line with corporate strategy and predictions.
Flutter Entertainment 2021 Report Reveals 37% Year-on-Year Rise in RevenueSports betting operations accounted for more than half of the company’s 2021 revenue at £3.77 billion (€4.52/$5 billion) while gaming revenue amounted to £2.26 billion (€2.71/$3 billion) for the year.
Flutter’s revenue growth was attributed to the 2020 acquisition of The Stars Group while the drop in EBITDA was a direct result of increased investment in the US as the FanDuel brand continues to launch in regulated sports betting markets across the country.
Flutter Entertainment 2021 Report Reveals 37% Year-on-Year Rise in RevenueSpeaking of the yearly results, Flutter CEO Peter Jackson said:
“2021 was another strong year for the group as we made good progress against our strategic objectives and grew our recreational customer base to more than 7.6 million customers.
In the US, we delivered over $1.9bn in revenue, leveraging our differentiated product proposition to remain the number one sportsbook in the market with a 40% share. Despite our scale, we retain a challenger mindset; this year we launched a number of new features to our market-leading same-game parlay product, maintaining our competitive advantage in sports.
Flutter Entertainment 2021 Report Reveals 37% Year-on-Year Rise in Revenue
FanDuel became the first large scale online brand to generate positive revenue from sports betting and gaming in the US with an overall contribution of £9 million (€10.8/$11.9 million). Flutter revealed that the brand is on target to be EBITDA positive by 2023.
Flutter Entertainment 2021 Report Reveals 37% Year-on-Year Rise in RevenueJackson noted that he was happy with the company’s growth during 2021 saying:
“Overall, I am pleased with the progress we have made during 2021 and believe Flutter is exceptionally well positioned for future growth.”
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.