Tag Archives: Betfair

Flutter replaces KPMG with Deloitte as sportsbook auditor

Flutter Entertainment has named Deloitte as the auditor for its Paddy Power and Betfair sportsbook brands, according to a report from The Times. Deloitte replaces KPMG – one of its rivals in the ‘Big Four’ auditing firms alongside PwC and EY– as Flutter’s auditor partner, ending a 20 year business relationship. By entering into the agreement with Flutter, Deloitte has …

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Flutter calls on start-ups to enhance retail offering

Flutter Entertainment plans to enhance  Paddy Power’s retail offering via its Alpha Hub ‘global innovation community’, calling on emerging tech start-ups to participate.  The group, which operates 625 betting shops across the UK and Ireland, is looking for firms with ‘tenacious ideas’ focused around data and analytics, the in-store experience and the future of self-service terminals.  Interested companies will also …

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GambleAware lauds ‘Big Four’ donations but decries ‘inconsistent approach’

GambleAware has published its list of corporate donors for the 12 months ending 31 March 2022, revealing that the ‘Big Four’ group of UK operators generated 89% of all contributions. The responsible and safer gambling organisation updated that Entain, Flutter Entertainment and William Hill all made donations in the millions, with total industry contributions to GambleAware reaching £34.7 million. The continued …

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Bookies Corner: Local Elections of consequence to the future of Party leaders

On Thursday, the UK electorate will decide the +4,500 councillor seats servicing Britain’s local constituencies. Media reports of a Conservative fallout as Party MPs are ready to blame Boris Johnson for a predicted heavy loss of councillor seats following his handling of the Partygate scandal. As for Labour, Thursday’s results will serve as a barometer of whether Keir Starmer can …

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Network Gaming secures £1.25m funding from prominent investors

Sports prediction games developer Network Gaming has received funding of £1.25 million from a raft of investors, including some major names in the betting and igaming industry. Participants in the funding round include Betfair Co-Founder Andrew Black, Colossus Bets CEO David O’Reilly and TX Odds CEO Einar Knobel. Additional investors include Sandford Loudon, a partner at financial consultancy firm Oakside …

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Genius Sports bolsters 2022 commercial vision as NYSE status is settled

Genius Sports has reported positive financial results across all commercial verticals, as it ended  a transformative 2021 with a revenue increase of 75% year-on-year, albeit with a substantial EBITDA decline. Publishing its Q4 and full year 2021 trading update, the London-based, NYSE-listed sports technology and data rights firm revealed year end revenue of $262.7 million (2020:$149.7m), as Q4 earnings stood …

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Peter Jackson: Sustainable play is key for Flutter to match changing UK economics

Peter Jackson, Group CEO of Flutter Entertainment Plc described 2021 results as a ‘tale of two halves” for the FTSE100 betting group’s UK&IRE brands.   Matched against COVID-influenced record wagering Q4 2020 comparatives, Jackson admitted that the group’s flagship UK&IRE business had somewhat lost its trading momentum. UK&IRE teams “saw a very material swing in sports results year-on-year. The swing from …

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Flutter bears £288m loss as FY2021 stumbles on Stars M&A impairment

Flutter Entertainment Plc maintains confidence in expanding its leadership position across  all global markets, despite declaring full-year operating losses of £288 million.   The FTSE100 betting group detailed that its full year group revenue increased by 37% to £6.04 billion (2020: £4.4bn), although group EBITDA declined by 6% to £723 million from the previous year’s figure of £772 million.  In particular, …

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Flutter adopts ‘comprehensive and challenging’ sustainability strategy

Flutter Entertainment has tasked itself with achieving three core objectives by 2030 in pursuit of its new sustainability strategy, dubbed the ‘Positive Impact Plan’. The FTSE100 gambling group intends to build on its previous achievements in sustainability and target areas where it can maximise its positive impact, in particular leveraging its ‘global scale’ to support local initiatives that provide impact …

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Flutter confirms NED departures of Cawley and Byng-Thorne

The board of Flutter Entertainment Plc has confirmed that Michael Cawley has decided to end his nine-year tenure as a non-executive director of the FTSE100 gambling group.  Having previously served as the Chief Executive of Ryanair, Cawley has been a corporate advisor of Flutter since 2013, providing  guidance on the business’ transformative mergers with Paddy Power in 2018/2019 and The …

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