Flutter Q1 revenues grow amid spike in monthly player numbers

Bookmaker Flutter Entertainment saw group revenues grow in the three months ended 31 March as the number of average monthly players rose by 15% to 8.85m.

Flutter said on Wednesday that total revenues had grown 5% year-on-year to £1.56bn, with sports revenue growing 4% to £930.0m and gaming revenues up 8% to £636.0m.

In the US, Flutter said "excellent execution" had seen it deliver revenue growth of 45% to $574m, with "continued strong customer economics".

The FTSE 100-listed firm stated revenue in its international division was 5% lower, reflecting the impact of expected headwinds in the quarter. However, excluding these headwinds revenue grew 6%, with strong growth in Canada, Brazil, India, Georgia, and Armenia.

Chief executive Peter Jackson said: "With our enlarged recreational customer base, winning position in the US, and ongoing focus on sustainable growth, our business remains well placed for the future."