Flutter Entertainment 2021 Report Reveals 37% Year-on-Year Rise in Revenue

According to the report, Group EBITDA fell by 6% during 2021 to £723 million (€868.2/$960.6 million) while the company’s share price on the FTSE 100 dropped by more than 12% to £94 (€112.88/$125) at the time of writing.

The report also noted that Russia accounted for £41 million (€49.2/$54.4 million) in revenue while gambling operations in Ukraine contributed £19 million (€22.8/$25.2 million).

Speaking 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.

In the UK & Ireland, Flutter claimed a market share of 29% for 2021, representing online revenue growth of 3%. However, an unprecedented run of customer-friendly sports results in 2021 cost Flutter’s sports betting brands a combined £232 million (€278.5/$308.4 million) in revenue year-on-year.

Jackson noted that he was happy with the company’s growth during 2021 saying:

Olivia Richardson

Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.