Online betting operator Flutter Entertainment has posted a 2020 trading update, revealing that revenues for the year were up 105.5% to £4.4 billion during the period.
2020 was a busy year for Flutter, who took full ownership of brand FanDuel as well as The Stars Group. The company said that TSG revenues were up 27% during the year. Sportsbook revenues were up 63.5% to £2.73 billion, while the company's gaming revenues jump 253.7% to £1.67 billion. Paddy Power Betfair revenues were down 2.2% to £1.29 billion, hurt by the forced closure of retail shops related to Covid restrictions.
Sky Betting & Gaming saw betting revenues grow 33.5% to £590 million. The Australian brand Sportsbet saw revenues grow 57.9% to £1.08 billion.
The United States was a major source of growth for Flutter, with revenues growing 80.1% to £695 million. The company's FanDuel, Fox Bet, Betfair, and PokerStars are live in the market, and are expanding as new markets regulate sportsbetting and online casino gaming.
We're awaiting the company's official full-year results and will post them as they're revealed.