Paddy Power owner Flutter 'on track' to turn profit this year as it sees revenues jump in Q1

Flutter gained 1.5 million new betting customers in the US, its main market.

Led by its Fanduel brand, Flutter maintained its leading 50% share of the US sports betting market and increased its slice of the iGaming market to 23% from 21% three months earlier.

Paddy Power owner Flutter’s revenues increased in the March quarter after it gained 1.5 million new betting customers in the US, its main market.

The gambling giant grew revenues to more than €2.7bn, up 54% on the previous year. Flutter’s pro forma revenues were by 29%.