Flutter reported strong Q1 21 trading numbers, with revenue growing 33% on a cc basis, attributable to a 42% uptick in online revenue driven by both sports betting (+41%) as well as gaming (+22%). Regionally, the US stood out with a 135% rise in revenue.
The firm offered no additional information about the potential IPO of FanDuel, which will be a key valuation trigger.
We will raise our estimates and target price to factor in the strong showing.
30 Apr 2021
Leveraging the online shift
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Leveraging the online shift
Flutter Entertainment Plc (FLTR:LON) | 15,132 54477 2.4% | Mkt Cap: 26,852m
- Published:
30 Apr 2021 -
Author:
Virendra Chauhan -
Pages:
3
Flutter reported strong Q1 21 trading numbers, with revenue growing 33% on a cc basis, attributable to a 42% uptick in online revenue driven by both sports betting (+41%) as well as gaming (+22%). Regionally, the US stood out with a 135% rise in revenue.
The firm offered no additional information about the potential IPO of FanDuel, which will be a key valuation trigger.
We will raise our estimates and target price to factor in the strong showing.