Thu Mar 2 2023 – 08:32
Once-off costs left Paddy Power and Betfair owner Flutter Entertainment with a £305 million (€343 million) loss last year.
The Irish gambling giant said on Thursday that revenues rose 27 per cent to £7.7 billion in 2022 from £6 billion the previous year.
Pretax losses narrowed to £305 million last year from £412 million in 2021, the company’s financial results show.
However, stripping out several once-off costs and expenses that are not part of its normal business, Flutter’s pretax profit slipped 26 per cent to £336 million in 2022 from £454 million the previous year.