Online Casino Revenue Offsets the Lack of Sports Gambling for Flutter Entertainment
In the backdrop of a pandemic, Flutter Entertainment plc (OTC: PDYP.Y)(LSE: FLTR) has shown resilience. Flutter is a global operator of online casinos and sports betting websites, including FanDuel, Betfair, Poker Stars, and Sky Betting. The company continues to produce good financial results in a very challenging environment, even as cancellation of sporting events effectively shut down most of its sportsbook.
Flutter's sportsbook is its most popular betting product. In the United States, Flutter has established itself with its FanDuel Brand. In the U.K. and Ireland, the company operates several popular sports betting websites, including Sky Betting and Paddy Power. In Australia, Flutter owns Sportsbet, the most popular online sports betting platform.
It should be no surprise that the global cancellation of most live sporting events was a major blow to Flutter Entertainment. And with no live sports, there can't be sports betting.
Source Fool.com
