Tag: Flutter

Paddy Power closes 21 shops in Ireland

Flutter UK and Ireland has closed 21 Paddy Power shops in the Republic of Ireland, affecting 78 members of staff.

The list of affected shops includes Dominick Street Galway, Kilkenny, Rathdrum and Templemore. In a statement, Flutter said the decision to close consisted of two main facets – lease expiries and early terminations. It added the decision came after a review into its “high street estate”.

Paddy Power is among Flutter’s biggest brands in the UK and Ireland, alongside Betfair and Sky Bet.

Flutter stated that the closures leave 230 active Paddy Power shops across the Republic of Ireland.

Flutter added that the “majority” of the 78 members of staff would be offered redeployment across Paddy Power’s remaining shops. However, it admitted that the closures would lead to a “small number” of job losses.

“As with all businesses in the retail sector, we regularly review our estate to ensure we are operating efficiently and meeting the evolving needs of our customers,” said David N..

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Flutter’s US business reaches “profitability inflection point” in H1

Flutter Entertainment has revealed its US business reached a “profitability inflection point” during the first half, with CEO Peter Jackson describing the period as “pivotal”.

Group revenue was up 41.9% in the six months to 30 June, while net loss also flipped to a profit. Much of this, Flutter said, was down to the performance of its US segment, namely the FanDuel Group brand.

Since taking ownership of FanDuel in May 2018, the brand has gone from strength to strength. FanDuel has moved far from an initial daily fantasy sports offering to now deliver sports betting and online casino in states across the US.

FanDuel investment coming in H2

US is Flutter’s star performer in H1

A strong six months for European operations

Australia disappoints

Working down the balance sheet

FanDuel US listing nears

Flutter CEO: Profits will fuel H2 investment for FanDuel

With CEO Jackson revealing that the US business took on more than two million new players in the first half, there is little ch..

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Women’s sports boom raises corruption risk, new report warns

Increased and more widespread monitoring of women’s sport should be considered to help combat match-fixing, according to a new report.

‘Breaking Barriers: Assessing Women’s Sports, Betting, and Integrity Challenges’ looked at the current state of female sports around the world.

Presented this week at iGB L!VE, the study had the support of leading industry organisations, operators and suppliers. These included the International Betting Integrity Association (IBIA), All-In Diversity Project (AIDP), Entain, Flutter and Stats Perform.

The report flagged a “dramatic” rise in women’s sport worldwide, accompanied by a similar increase in betting.

Football led the way in terms of betting activity, with an annual market growth rate of approximately 20% since 2020. This was followed by tennis, basketball and cricket, with growth rates of over 10% during the period from 2017 to 2022.

The study also looked at the characteristics of female bettors. The percentage of female bettors in women’s ..

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CDI pens deal with FanDuel

Horse racing and casino operator Churchill Downs Incorporated (CDI) has signed a content and sponsorship agreement with Flutter-owned FanDuel.

The multi-year deal involves multiple areas of FanDuel’s business – including its sports wagering, advance deposits wagering (ADW) and television verticals. Under the terms of the deal, CDI will provide B2B technology and services for FanDuel’s sportsbook’s pari-mutuel wagers on horse racing features.

It will also be possible for US-based FanDuel users to place bets on horse racing content at a CDI property, as well as allow FanDuel access to broadcast CDI content on the operator’s newly announced television network. The deal also has provisions providing FanDuel with non-exclusive Kentucky Derby sponsorship rights.

CDI subsidiary, United Tote, will be paid by FanDuel to facilitate the pari-mutuel wagering sections of the agreement. CDI has previously entered into an agreement to sell 49% of United Tote to the New York Race Association, in a..

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