Flutter Entertainment Q1 Revenue Up 16% At Constant Currency Basis

Flutter Entertainment plc (FLTR.L) reported that its first-quarter group revenue was 547 million pounds, up 16 percent at a constant currency basis from the previous year, despite impact of sports disruption. Online growth was 20%.

Revenue growth was 29% pre sports disruption.

In PPB Online, overall revenue has declined by 32% year on year. Sports revenue has decreased 57% and by 65% since the suspension of Irish racing from March 25. Gaming revenue has increased 15%.

In Australia revenue has reduced 7% year-on year with a limited impact from sports cancellations to date, reflecting continued racing behind closed doors.

US revenue is 8% lower year-on-year, with a decline in sports revenue of 46% and gaming revenue growth of about 200%.

The company has concluded that for as long as possible, it will endeavour to fund the salaries of all of its employees through the Group's own financial resources. Should the duration of the crisis be such that not taking this support would jeopardise jobs, it will review its position.

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