Flutter Entertainment Revenue Grows 37% in 2021
Flutter Entertainment has announced the group’s increased earnings. Overall, the operator earned £6.04bn ($8.11bn) for all of 2021. Compared to 2020, profit increased by 37%.
At the same time, group EBITDA fell 6% to £723m. The operator explained that the merger with The Stars Group (TSG) in May 2020 contributed to the overall growth in revenue. At the same time, the observed decrease in EBITDA was due to increased investment in the US and the influence of international regulators.
The company also posted a net loss of £543m. These funds were used for non-monetary depreciation from acquired intangible assets, as well as the payment of taxes. Meanwhile, the operator’s debt as of December 31, 2021, was £2.65 billion.
Flutter also provided a multi-month outlook, noting that revenue for the first seven weeks of 2022 is in line with expectations. At the same time, the operator plans to accelerate revenue growth in the near future.
Flutter Entertainment CEO Peter Jackson commented, “2021 was another strong year for the Group as we made good progress against our strategic objectives and grew our recreational customer base to over 7.6m customers”.
He added: “Yesterday we launched our new sustainability strategy, our ‘Positive Impact Plan’, which will see Flutter set a positive agenda for future change. Through this strategy we will build on the significant progress already made in areas such as safer gambling and measure our performance against defined goals to demonstrate how we are responsible leaders in our industry”.
Overall, the Flutter CEO noted that he is pleased with the progress made in 2021.
As a reminder, EveryMatrix’s gross margin increased by 32% in 2021.