Flutter Entertainment PLC Trading Update (2759O)
28 Mayo 2020 - 10:51AM
UK Regulatory
TIDMFLTR
RNS Number : 2759O
Flutter Entertainment PLC
28 May 2020
Flutter Entertainement PLC
28 May 2020
Q2 Trading update to 17 May 2020
Since the respective Q1 trading updates from Flutter
Entertainment plc and The Stars Group ("TSG") on April 17, which
outlined initial revenue run-rates across both businesses since the
start of Covid disruption, combined Group momentum has improved.
Pro-forma Group revenue has increased by 10% year-on-year in the
second quarter-to-date, despite widespread ongoing disruption to
global sports.
This performance reflects the newly combined Group's enhanced
product and geographic diversification; good online poker and
gaming performance has offset reduced sports revenue while strong
momentum in both Australia and the US has helped to partially
mitigate the impact of national lock-downs, particularly in
Europe.
Pro-forma Q2-to-date divisional performance has been as
follows:
Revenue Growth Quarter to
(YoY) Date
Constant Currency (17 May 2020)
TSG International +92%
---------------
PPB -54%
---------------
* PPB Online -41%
---------------
* PPB Retail -100%
---------------
Sky Betting and
Gaming -28%
---------------
Australia +56%
---------------
US +61%
---------------
Group +10%
---------------
Sports revenue has been materially impacted by the disruption to
the sporting calendar across all geographies. However , revenue in
Australia and our TVG business in the US has benefitted from the
continuation of horse-racing (behind closed doors) and retail
remaining shut. This has led to an acceleration in the migration of
retail customers to online, with our products and promotions
proving attractive to a new cohort of online customers.
Poker and gaming revenue has benefitted from strong customer
engagement across the Group's online offerings. As restrictions
have begun to lift however, year-on-year growth has started to
moderate , and we anticipate that this trend will accelerate as
more economies open up.
While the performance of the Group is encouraging and reflective
of the strength and breadth of our product and geographic
diversification, we continue to face uncertainty around each of the
following:
-- The timing of the resumption of sports and the prospect of more live sport being televised
-- The return of retail and the level of customer activity in our shops
-- The lasting migration from retail to online
-- Customer demand for gaming products as sports return
-- The ongoing consumer demand impact from global economic contraction
Notwithstanding these current uncertainties we believe that the
Group is well positioned for future growth, particularly in the
rapidly expanding US market.
Contacts:
Investor Relations:
David Jennings, Corporate Finance & Investor
Relations + 353 87 951 3560
Ciara O'Mullane, Investor Relations + 353 87 947 7862
Liam Kealy, Investor Relations + 353 87 665 2014
investor.relations@flutter.com
Press:
Fi Thorne, Corporate Affairs + 44 75 2111 4787
Billy Murphy, Drury / Porter Novelli + 353 1 260 5000
James Murgatroyd, Finsbury + 44 20 7251 3801
About Flutter Entertainment plc
Flutter Entertainment plc (the "Group") is a global
sports-betting and gaming company that currently operates five
divisions:
-- TSG International which operates the PokerStars brand which
is the world's biggest poker platform. PokerStars also offers
online gaming and sports betting.
-- The PPB division operates the Paddy Power, Betfair and
Adjarabet brands across online and retail sports betting and
gaming.
-- The Sky Betting and Gaming division includes SkyBet
sportsbook and Sky Vegas gaming businesses.
-- The Australian division encompasses the Sportsbet and BetEasy online sports betting brands.
-- The US division incorporates the FanDuel, Fox Bet, TVG,
Pokerstars and Betfair brands. The division has a diverse product
offering of online and retail sportsbooks, daily fantasy sports,
online gaming, poker, advanced deposit wagering on horse racing and
TV broadcasting.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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