Flutter Entertainment on the Rise: Surging Revenue and Profit
FanDuel Parent Soars After Stellar Performance
CEO Peter Jackson Discusses Ambitions and Growth Strategy
Flutter Entertainment Plc (FLUT), the parent company of popular sports betting platform FanDuel, has been making waves in the industry. In a recent interview, CEO Peter Jackson provided insights into the company's performance and future plans.
According to Jackson, Flutter does not intend to directly compete with rival DraftKings Inc. Instead, the company aims to focus on its strengths and expand its market share through strategic acquisitions and partnerships.
The company's recent financial results have been impressive. In an earnings report released on Tuesday, Flutter reported a 25% surge in revenue, driven by the strong performance of its FanDuel business. This translated into a significant 364% increase in profit to £297 million, compared to £64 million last year.
The positive results have been well-received by investors. Shares of Flutter Entertainment jumped as much as 11% following the earnings announcement. This surge has created momentum ahead of the company's secondary offering in the United States.
With FanDuel gaining traction in the rapidly growing US sports betting market, Flutter Entertainment is well-positioned for continued growth. The company's strategic focus and strong financial performance will likely continue to drive investor interest.
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