Flutter Entertainment PLC Sportsbet Investor Day (5171M)
September 22 2021 - 12:59AM
UK Regulatory
TIDMFLTR
RNS Number : 5171M
Flutter Entertainment PLC
22 September 2021
22 September 2021
Flutter Entertainment plc ("Flutter" or "Group")
Sportsbet investor day
Flutter Entertainment plc (the "Group") is today hosting a
virtual investor event showcasing Sportsbet, the Group's market
leading Australian division. Sportsbet achieved an online sports
betting market share of over 50% in the first half of 2021 and
today's event outlines the key components of that success.
Sportsbet's strategy is centred on winning in three battleground
areas; product, value and marketing. As our presentation outlines,
the business' future growth prospects remain compelling:
-- The online sports betting market continues to grow strongly
in Australia having generated compound annual growth of 21% over
the last 5 years.
-- Sports betting still only accounts for 17% of the total
Australian gambling market today, a share that is continuing to
rise.
-- The business has a highly recreational player base with
growing disposable income; this will support future growth across
our existing player base.
-- Sportsbet's market leading position and scale is driving a
flywheel effect that continues to result in superior economics
vis-à-vis competitors.
-- In-house industry leading pricing and risk management
capabilities that underpin development of products that keep our
customers entertained and engaged.
-- A symbiotic relationship with Flutter that sees Sportsbet
benefit from a powerful blend of global and local capabilities.
-- A highly experienced team that has demonstrated a multi-year
track record of innovation and success.
Peter Jackson, Flutter Chief Executive, commented:
"We believe that the Sportsbet case study highlights how a
market leader in our industry, with a clear strategy that puts
product innovation and customer entertainment at the heart of what
it does, can consistently deliver market share gains. Sportsbet's
success also underlines how being the scale operator in a local
market with access to Flutter Group capabilities can enable it to
respond well to the inevitable changes that occur across regulatory
and tax landscapes over time. This results in growing market share
and profitability as competitors find it more difficult to adjust
to such changes.
Over the last 18 months, there has been a step change in the
size of our Australian business. Our experienced team integrated
the BetEasy business into Sportsbet in just 89 days while dealing
with the challenges brought about by the pandemic. At the same time
we won a disproportionate share of traditional retail customers
that migrated online, delivering high levels of customer retention
since. As we look to the future, we remain excited about the
prospects for the business and believe it continues to have a long
runway of sustainable growth ahead of it."
Investor presentation and event:
The event, including registration can be accessed here: https://flutter.connectid.cloud/
. A pre-recorded presentation will be available from 7.00am
BST followed by a live video stream of the Q&A call hosted by
local management for analysts at 10am BST.
Contacts:
Investor Relations:
David Jennings, Group Director of
Investor Relations & FP&A + 353 87 951 3560
Ciara O'Mullane, Investor Relations + 353 87 947 7862
Liam Kealy, Investor Relations + 353 87 665 2014
Press:
Fi Thorne, Group Director of Corporate
Affairs + 44 75 2111 4787
Lindsay Dunford, Group Head of Corporate
Affairs + 44 79 3197 2959
Billy Murphy, Drury Communications + 353 1 260 5000
James Murgatroyd, Finsbury + 44 20 7251 3801
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END
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