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    FLTR   IE00BWT6H894

FLUTTER ENTERTAINMENT PLC

(FLTR)
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Delayed London Stock Exchange  -  11:35 2022-11-30 am EST
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Flutter Entertainment : FanDuel launches first UK Collaboration Hub in Edinburgh

09/27/2022 | 07:21am EST

FanDuel - Flutter Entertainment plc's market leading US business - is heralding in a new era as it opens the doors to its debut UK Collaboration Hub in Edinburgh.

Located in Scotland's tech capital, the UK Collaboration Hub will foster cross discipline working and drive project innovation, while bringing FanDuel colleagues closer to those working for Flutter's UK and Ireland, and International divisions. The launch of the Collaboration Hub will see the creation of 250 new engineering jobs to support the development of FanDuel's industry leading mobile sportsbook, casino and racing platforms. Colleagues will also work on specialist projects relating to tech, product and UX.

The UK Collaboration Hub is based on Freer Street within the regenerated Fountainbridge area of Edinburgh and offers a bright and refreshing space designed to boost creativity and engagement from state-of-the-art equipment. Taking up three floors, the bespoke fitout is designed with ease and flexibility in mind to welcome its growing staff base and foster easy and inclusive working. Additionally, a gaming area, pool table, consoles, rooftop garden, acoustic and wellbeing pods offer multiple breakout areas and the opportunity for staff to recharge.

Matthew Taylor, FanDuel Vice President of Software Engineering, said: "We believe a collaborative approach is the best way to drive results and truly innovate when it comes to product delivery. The official launch of our new UK Collaboration Hub today signals an exciting new chapter in the FanDuel story that will proactively bring together the best talent from across the country to innovate and excel in this dedicated creative space."

Having been originally founded in Scotland in 2009, the opening of the UK Collaboration Hub is the latest investment the company has made in the country. It will accommodate up to 550 people and will be open to staff across the UK and those visiting from the US.

Taylor added: "The continued boom of the UK and Scottish tech sector is undisputed, and we wanted to create a new world-class environment to match our world-class engineering teams. Investing in our people is key and the Collaboration Hub helps us continue to recruit, develop and support our colleagues as we further grow our UK employee base."

FanDuel is the number one sportsbook in the US and is enjoying a period of extraordinary growth. This includes generating $750m in revenue during the second quarter of 2022, which helped the fast-growing brand to generate a profit in the US. FanDuel now enjoys a 51% market share in online sportsbook, with the UK Collaboration Hub set to support its ongoing growth with a sizeable investment in local talent.

For further information, please contact: communications@flutter.com

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Disclaimer

Flutter Entertainment plc published this content on 27 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2022 11:20:04 UTC.


ę Publicnow 2022
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Financials
Sales 2022 7 466 M 8 910 M 8 910 M
Net income 2022 4,65 M 5,55 M 5,55 M
Net Debt 2022 4 180 M 4 988 M 4 988 M
P/E ratio 2022 3 738x
Yield 2022 0,06%
Capitalization 21 414 M 25 554 M 25 554 M
EV / Sales 2022 3,43x
EV / Sales 2023 2,85x
Nbr of Employees 16 813
Free-Float 97,0%
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Number of Analysts 25
Last Close Price 12 175,00 GBX
Average target price 13 645,23 GBX
Spread / Average Target 12,1%
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Jeremy Peter Jackson Chief Executive Officer & Director
Jonathan Stanley Hill Chief Financial Officer & Director
Gary W. McGann Non-Executive Director
Zillah Ellen Byng-Thorne Independent Non-Executive Director
Nancy Cruickshank Independent Non-Executive Director
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