Flutter experiences a 46% revenue increase in Q1 2023
Flutter Entertainment has recently published its latest financial analysis, which has revealed sizable growth for the corporation in 2023’s Q1.
The company’s total revenue was recorded at just over 2.8 billion pounds, which was 46% higher than the revenue of 1.5 billion pounds the firm generated in 2022’s Q1.
Breaking down by region, the majority of Flutter’s revenue increase came from its United States and international operations, which experienced increases of around 90% and 70% respectively. Its British and Irish divisions saw a combined increase of 17%, while its Australian operation was the only one to decrease slightly by 4%.
In terms of the corporation’s sports betting and gambling operations, the former saw a higher increase in revenue of 53% year over year, making just under 1.5 billion pounds in the quarter. The latter, on the other hand, experienced revenue growth of 35%, going from the prior year’s 636 million pounds to 916 million pounds.
Combining both breakdowns reveals that Flutter’s international sports wagering operations saw the largest revenue increase at 187%, which was followed by its United States betting division which saw an increase of 116%.
Flutter also reported an increase in its average monthly user numbers, which grew from the prior year’s figure of 9.5 million to over 12.3 million this year.