Sky Bet owner reports 30% jump in revenue to £1.3bn for Q3
Flutter Entertainment, the owner of Leeds-based Sky Bet, has reported a growth in group revenue of 30% to £1.3 billion for the third quarter.
EBITDA for the year outside the US expected to be in the region of £1.275 to 1.35bn, an increase of £25m on previous guidance. Sky Betting and Gaming recorded revenue growth of 26%, with Flutter saying the company had benefited from ‘favourable results’ across football and racing.
Online revenue across the group as a whole grew 33%, while average daily customers grew by 41% globally. New customer acquisition was more than 450,000, with over 1.8m active customers in the third quarter.
Flutter said its performance had exceeded expectations and proclaimed that it was now a "truly global business".
Flutter CEO Peter Jackson said: “Flutter’s performance in the third quarter exceeded our expectations in both sports and gaming. Our strong trading continued as we grew market share in key regions while retaining our commitment to safer gambling practices.
“During the quarter we continued to expand our recreational customer base while bringing our businesses together. We have enhanced the customer experience, secured further strategic media partnerships and acquired more new customers than anticipated.
“We are on track to generate more than $1.1bn of GGR in the US this year, which will mark a major ‘first’ for an online operator. We are now a truly global business with significant scale.
“As such we are in a unique position to respond to the many opportunities we see across our growing markets.”
Flutter is the biggest online betting company in the world and bought Canadian firm Stars, the owner of Sky Betting and Gaming, earlier this year after being given the green light by the UK’s competition watchdog.