US BET KEY TO FLUTTER'S FUTURE

Published date13 August 2022
Publication titleJournal, The
But strong news out of the company's US markets, and the hope that it might make a profit in the country this year helped lift shares

The business said that pre-tax loss reached £51million in the first half, from a £77million profit in the same period a year ago. The loss came on revenue of £3.4billion, an increase of 11% compared to a year ago.

The business said that the revenue from its high street shops in the UK and Ireland more than trebled.

A year ago many of these sites had been closed for prolonged period a year ago because of COVID-19 lockdowns. The UK retail estate has seen sports and gaming revenue return to their pre-pandemic levels.

But customers have been slower to return to betting shops in Ireland, where revenue is only 69% of 2019 levels.

"The first half of 2022 was positive for the group with significant progress made against the strategic objectives we outlined in March, said chief executive Peter Jackson.

"We expanded our recreational customer base by over one million players in the half and increased the proportion of customers using safer gambling tools to over one third."

Richard Hunter, head of markets at interactive investor, said that the company's US business is key to its...

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