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THE company behind Paddy Power and Betfair has said that 30 per cent more gamblers used one of its services monthly in the opening quarter of the year as it managed to hold on to punters who got involved during the winter World Cup.
Flutter Entertainment said that it had attracted around 12.3 million gamblers a month between January and March this year, up from around 9.5 million in the same period a year before.
It helped the business grow revenue by 54 per cent over a year to £2.4 million during the three-month period.
The company said that revenue from its UK and Ireland sports business rose by 16 per cent as the company held on to the gamblers it attracted during the World Cup late last year.
Revenue at the business’s retail stores in the countries also rose by 15 per cent as Paddy Power grew its market share, but also because last year’s results were still being affected by Covid-19.
But the results come just days after the Government published a White Paper on the gambling industry.
The paper warned that around 300,000 people in the UK are estimated to be experiencing problem gambling, and another 1.8 million are “gambling at elevated levels of risk”.
“In the UK, the publication of the White Paper has vindicated the proactive actions we have taken to further embed safer gambling across our organisation through our Play Well strategy,” said chief executive Peter Jackson.
“The changes will bring consistency to safer gambling protections for customers and make responsible play a priority across all operators, which we strongly support.”
On a call with reporters, he called the paper “a significant moment for the sector” after years of uncertainty and said the company would continue to engage with the Government as it consults on proposed changes.
“We’ve already implemented many of the measures proposed,” Mr Jackson said.
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