Paddy Power owner bets on US, Latin America, and mainland Europe expansion to offset Covid threat

The betting company turns their attention to global expansion to ease recovery from Covid-19 setbacks 

Paddy Power's shop on Cornmarket Street in Cork

Paddy Power owner Flutter Entertainment is eyeing further expansion in mainland Europe, Latin America and the US as it looks to strengthen its recovery after taking a hit, in the first half of the year, from cancelled sporting events due to the Covid-19 pandemic.

The group generated pre-tax profits of just £24m (€27m) for the first six months of 2020, 70% down on the same period last year. However, revenues rose by 49% to £1.52bn. It said the second half of the year has started well, helped by the newly condensed sporting calendar.