Flutter Entertainment has posted revenue of £3.38bn ($4.12bn) for the six months ended 30 June 2022, a 9% increase from the prior-year period.
As noted by Flutter, this was in line with management’s expectations, and was driven by a 14% increase in recreational customers. Adjusted EBITDA for the period was down 19% to £476m, which was also in line with expectations.
The group reported a loss after tax of £113m, compared to £86m in 2021, while net debt increased £322m year-on-year to £3bn.
In the US, adjusted EBITDA was positive in Q2, while the group’s sports betting market share accelerated to 51%.