Flutter Entertainment has ignored bettor-friendly sports results in the United States in recent weeks to raise its core revenue and profit forecasts for the year.

The parent company of Paddy Power, Sky Bet and Betfair said a 1% rise in group guidance reflected strong performance outside the US in the third quarter, as it published its financial results for the period on Tuesday evening.

During the quarter, the average monthly player count increased 16 percent to nearly 13 million, while revenue increased 27 percent to nearly $3.25 billion (around $2.55 billion). of pounds sterling/3.06 billion euros).

A “strong” conclusion to the European Football Championships in July helped improve performances in the UK, Ireland, as well as Italy, as did the start of the domestic football season.

What Flutter described as excellent momentum for its US arm FanDuel during the third quarter, thanks to product launches and favorable results at the start of the NFL season, was then “more than offset” by sports results which tilted in favor of the punters in the fourth. quarter to date.

Last week, DraftKings, Flutter’s main US rival, lowered its forecast for the year due to the recent string of friendly NFL results.

Chief executive Peter Jackson said Flutter had an “excellent” third quarter.

Flutter CEO Peter Jackson said Flutter had an “excellent” third quarter, with revenue growth “well above market expectations.”

He added: “In the US, we’ve had a fantastic start to the new NFL season, with maximum bets per minute already higher than Super Bowl LVII.”

Outside the US, Jackson said “all divisions delivered a strong performance in the quarter”, with a broader product range in sports and video games driving player and revenue growth in the United Kingdom and Ireland division.

He added: “We believe the group has exciting growth prospects due to our unprecedented leadership positions across the world, supported by access to Flutter Edge. We expect to have significant capital to deploy over the coming years and I am excited to begin the share repurchase program in the fourth quarter.”

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