What is Flutter Entertainment?
Flutter Entertainment plc is a leading international sports betting and gambling company with its headquarters in Dublin, Ireland. It is the parent company of some of the biggest betting brands including Paddy Power, Betfair, FanDuel, Sky Betting and Gaming and Sportsbet. Flutter Entertainment is listed on the London Stock Exchange and is a FTSE 100 Index constituent.
Peter Jackson is a British businessman and has been Flutter’s CEO since 2018. As of January 2024, Flutter’s net worth is $29 billion and the diverse, global portfolio means that their success is established by reaching podium positions in all the markets they operate in, tailoring their strategies to local brands and offering valued experiences.
In 2022, Flutter had a total revenue of £7.7 billion which is up by 27% from 2021, made up from UK & IR, US, Australia and International. Flutter operates in over 100 international markets and had an average of 12.1 million monthly players in Q4 and 10.2 million in the whole of 2022 which was up by 26% in 2021. Markets such its homebase of Ireland are dominated by it’s brands, as seen at Topbettingsites.ie, Betfair and Paddy Power offer some of the biggest sports selections covering local sports such as GAA and horse racing. The US revenue is up 67% with the US market share in Q4 up 50% and they invested £60 million towards safer gambling initiatives as they are dedicated to putting the needs of customers first.
Flutter’s stock has grown continuously over the years due to the increase in popularity for online gambling which increases revenue and their commitment to constantly providing new and exciting ideas to cater for the growth in betting and the customers’ needs.
Play Well
Flutter is a unique betting company as they focus on the customers and encourages safe and positive gambling with their Play Well initiative. They provide customers with tools and support to ensure every customer has an enjoyable and educated experience that is tailored to the different needs of local markets and the regulatory environments.
Flutter invests in research and listens to the feedback of customers, colleagues and critics to constantly develop new and exciting ideas for a positive gambling experience. In 2023, 42% of customers used a Play Well tool, a 6.6% increase from 2022. Support and protection is also offered using algorithms to notice a change in players’ behaviour to intervene with appropriate action.
Flutter’s Positive Impact Plan
Flutter Entertainment is committed to working hard to improve the impact on customers, colleagues, communities and the environment. Flutter has created important goals that always challenge them to do better by combining their efforts.
- Customers
Flutter encourages customers to Play Well by providing a safe and entertaining space in all of their markets for a positive experience. Focusing on customer wellbeing, they provide tools and education to boost the enjoyment of customers and the goal is to have 75% active online customers by 2030.
- Colleagues
Flutter aims to empower colleagues to Work Better by providing a supportive work environment and encouraged to perform at their best. They regularly expand to accommodate more markets and opportunities to enhance creativity and to keep getting bigger and better.
- Communities
Flutter aims to Do More for the communities by providing support for the places they work and operate in for a positive impact on a local and global scale. Their goal is to improve the lives of 10 million people by 2030.
- Environment
Flutter is focused on their environmental impact and aims to operate with reduced carbon emissions with a clear strategy that will work towards a goal of net zero emissions by 2035. Not only do they want to reduce their environmental impact but inspire others to do the same.
Flutter’s Strategy
In 2021 Flutter Entertainment refreshed their strategy to create four pillared goal priorities to improve the future of the company.
- Grow Gold Medal Positions in Current Markets
Flutter will continue to grow their customer base by providing initiatives such as safer gambling which will in turn extend the brand and leadership. Improve products to boost customer experience and further integrate in the UK and Ireland markets.
- Invest in the US
Flutter will continue to invest in the US as each state legalises gambling to maintain their #1 status. They will use FanDuel to achieve revenue growth and become the leading product in the market and improve the gaming section.
- Network Build & Invest in Global Markets
Focus on their international markets to achieve podium positions by combining their global scale and local presence for a future growth in sustainability. They will invest in their brand and products to revitalise the company for a global experience for customers.
- Improve the Future
Flutter is always on the lookout for improvements in the betting space and will explore new ways to enhance the betting industry and transform the customer base with new opportunities and global growth.