DUBLIN (Reuters) – Online betting giant Flutter posted a 15% rise in fourth-quarter revenue on Thursday but said growth of 26% in its Fanduel U.S. business was below expectations due to a series of very friendly customer results.
The world’s largest online betting company said in November that it expected full-year earnings excluding the nascent U.S. market of 1.44 billion pounds, the bottom of its previously forecast range following a similar run of results in Europe.
It is due to report earnings figures on March 26 but in a post-close statement on Thursday said the 1.139 billion pounds of net revenue generated in the U.S. in the fourth quarter was 147 million pounds below the guidance provided in November.
It said the U.S. revenue miss would have an approximate 35% flow through to adjusted earnings. Revenue growth in its three other main divisions was in line with guidance, the Paddy Power, Betfair and Sportsbet owner added.
(Reporting by Padraic Halpin; editing by Jason Neely)
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