Tag: Flutter Entertainment

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Paddy Power boss Peter Jackson is a very wealthy man. Gambling is a game of winners and losers. Paddy Power set the odds…

Barry O’Halloran

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.