By Kyle Morris


Flutter Entertainment PLC said Wednesday that revenue for the first quarter increased 6% on constant currency after it booked strong recreational player momentum and good execution in the U.S.

The FTSE 100 gambling group said revenue for the period was 1.57 billion pounds ($1.96 billion) compared with GBP1.49 billion a year earlier, with average monthly players up 15%. U.S. revenue grew to $574 million.

The owner of FanDuel and Paddy Power said it remained the number one U.S. sportsbook, with a 37% online sports betting share, and secured 1.3 million new customers in the U.S. in the quarter, similar on year.

U.K. and Ireland revenue declined 20%, it said, due to the expected impact of safer gambling measures and tough comparables.

"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" , Flutter Chief Executive Peter Jackson said.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

05-04-22 0237ET