Flutter raises US sales forecast after a strong third quarter

The world’s largest online bookmaker said 82% year-over-year revenue increase in the US, where its FanDuel unit remained the number one operator, along with a recent Italian acquisition boosted total revenue in the quarter by 22%. On a fixed currency basis.

The owner of Paddy Power, Betfair and PokerStars now expects full-year US revenue of $2.95 billion to $3.2 billion, up from a previous forecast of $2.85 billion to $3.1 billion.

The company still expects a loss of between $300 million and $360 million in the United States this year.

The company also maintained its full-year core group profit forecast at 1.29 billion pounds ($1.49 billion) to 1.39 billion pounds in the wake of continued weakness in Irish stores and the cancellation of some sporting events in Ireland and the United Kingdom during the quarter.

“We are so pleased with our performance in our NFL since the NFL’s inception in September that we now have over 1 million players in the NFL one Sunday,” Flutter CEO Peter Jackson said in a statement.

“In addition, we see an increase in customer loyalty, spurred by the start of the NBA season.”

($1 = 0.8661 pounds)

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