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Bookies boost revenue despite sports shutdown

17th April, 13:37

US and Australia horse racing helps keep Flutter Entertainment's online bookies going

The owner of Paddy Power and Betfair has increased revenues despite sports being cancelled across the world.

Flutter Entertainment boss Peter Jackson said his company was lifted by decisions by horse-racing authorities in the US and Australia to allow races to go ahead.

Flutter's revenues were up by 16% overall to £547 million in the first three months of the year. Revenue from sports betting rose by 13%, though before March 15 it was on track to grow by 30%, the company said.