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 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCSEWFMFEFSEDU

(END) Dow Jones Newswires

September 22, 2021 01:59 ET (05:59 GMT)

Paddy Power Betfair (LSE:PPB)
Historical Stock Chart
From Nov 2021 to Dec 2021 Click Here for more Paddy Power Betfair Charts.
Paddy Power Betfair (LSE:PPB)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more Paddy Power Betfair Charts.