- Daily actives have mostly—but not entirely—returned to pre-pandemic levels.
- In a wide-ranging presentation that discussed a myriad topics, the PokerStars plans generated the most Q&A.
- “We’re in a more fortunate position that we can invest behind all the opportunities we see.”
- The group announced that it planned to invest £50 million in the second half of 2020.
- “There is an important balance that has to be struck in developing the business for the long-term.”
- “The online poker market is competitive, and we’re going to have to invest in our product and customer experience.”
Flutter Entertainment, in presenting its first financial results since completing its acquisition of The Stars Group, laid out a bold new direction of increased focused and investment at PokerStars.
On Thursday, Flutter, which now comprises over a dozen of the world’s most recognizable gaming brands, including Paddy Power, Betfair, Skybet, PokerStars and FanDuel, boasted of impressive revenue growth in most of its divisions: Sky Betting and Gaming up 32%, PokerStars up 37%, Australia up 45%, the US up 66%.
This more than offset the decline of 8% at Paddy Power-Betfair, hit by retail sportsbook closures due to the coronavirus outbreak.
Overall, total pro forma group revenue for the half sat at £2.4 billion, up 22% year-over-year. It was almost exactly split between sports betting and gaming, though the former grew only 8% year-over-year; the latter 40%.
“We’re very pleased with our first half performance and the way the group has maintained its strong momentum against a very challenging backdrop,” said Flutter CEO Jeremy Peter Jackson in presenting the group’s results to investors yesterday.
