Flutter Entertainment U.S. Revenue Misses Guidance

By Najat Kantouar

Flutter Entertainment said fourth-quarter U.S. revenue missed its expectations but the rest of the business's earnings were in line.

The FTSE 100 gambling and betting group behind the FanDuel, PokerStars and Paddy Power brands said Thursday that group revenue for the three months to Dec. 31 rose 11% from a year earlier to 2.67 billion pounds ($3.38 billion).

U.S. and U.K. and Ireland revenue rose 19%, while Australia revenue dropped 9%.

In the U.S., net revenue was GBP1.14 billion, GBP147 million below previous guidance, the company said.

The company said in December that it would list its shares on the New York Stock Exchange on Jan. 29 and keep its listing on London's FTSE 100 index, but delist from Dublin.

"We are very excited that the addition of a U.S. Flutter listing is now just days away. This is a pivotal moment for the group as we make Flutter more accessible to U.S. based investors and gain access to deeper capital markets," Chief Executive Peter Jackson said.

Write to Najat Kantouar at [e-mail]

(END) Dow Jones Newswires

January 18, 2024 02:49 ET (07:49 GMT)

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