According to Flutter Entertainment, For the third quarter of 2021, revenue is expected to climb by 1
Flutter Entertainment announced sales of £1.44 billion ($1.97 billion) in the third quarter of 2021, up 12% from the same period last year.
Sports income increased by 17% to £906 million, while gaming revenue increased by 5% to £534 million. Meanwhile, the group's average monthly gamers increased by 13% year over year to 7.3 million.
Due to a "busier, high-profile athletic calendar in the preceding year," sales in the United Kingdom and Ireland fell 5% to £491 million, while revenue in Australia increased 20% to £370 million attributable to good customer retention amid stay-at-home regulations in the nation. International revenue declined 3% to £299 million, while income in the United States increased by 85% to £280 million.
In the update, Flutter also updated current trading and full-year forecasts, adding that unfavorable sports outcomes in the first 24 days of October have reduced group EBITDA (excluding in the United States) by about £60 million. Adjusted EBITDA for the year is now forecast to be £1.24 billion to £1.28 billion, up from £1.27 billion to £1.37 billion in earlier guidance.
Meanwhile, in the United States, net sales estimate remains unchanged at £1.285 billion to £1.425 billion, with an Adjusted EBITDA loss of £250 million to £275 million projected.
"We maintained our top position in the United States, with the quality of our product offering contributing to strong levels of consumer engagement," stated Peter Jackson, CEO of Flutter Entertainment. "As predicted, the NFL season began with a spike in competitive intensity. However, we stayed disciplined, utilizing the vast array of high-quality marketing tools at our disposal.
"The client response has been quite positive, with FanDuel currently seeing staking levels on Sundays that are on par with its SuperBowl performance in 2021." Since the start of the season, there has been a lot of interest in NBA.”
"We continue to lead on consumer protection across our company," Jackson said, "and we recently announced steps to increase the safety of younger customers in the UK and Ireland as part of our risk-based "Triple Step" approach to affordability."
By Flexi Team
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