By Najat Kantouar
Flutter Entertainment, the renowned FTSE 100 gambling and betting group, has revealed that its fourth-quarter U.S. revenue fell short of expectations. However, the company's overall earnings remained in line with projections.
Group revenue for the three months ending on December 31st, 20XX, surged by 11% compared to the previous year, amounting to an impressive £2.67 billion ($3.38 billion).
While revenue from the United States, the United Kingdom, and Ireland experienced a significant increase of 19%, revenue from Australia witnessed a decline of 9%.
Specifically, net revenue in the U.S. reached £1.14 billion, which was £147 million lower than the initial guidance provided by the company.
In December, Flutter Entertainment announced its plan to list its shares on the New York Stock Exchange on January 29th, while maintaining its listing on London's FTSE 100 index and delisting from Dublin.
"We are thrilled that we are just days away from the U.S. Flutter listing. This milestone is of paramount importance to our group as it allows us to attract U.S.-based investors and access deeper capital markets," stated Chief Executive Peter Jackson.