Flutter Entertainment CEO: We are clearly taking market share in the UK
Peter Jackson champions product development and early adoption of safer gambling measures in post-results call
Flutter Entertainment CEO Peter Jackson has said the operator is “clearly taking” market share in the UK.
Speaking as part of an analyst call following the FTSE 100 operator’s Q3 trading update, Jackson said that while the remainder of the market was relatively flat, Flutter had been able to buck the trend.
Revenue in the UK and Ireland increased 11% year on year on a constant currency basis from £509m to £566m.
Of this total, online revenue also jumped 11% from £443m to £494m, with an 18% revenue uptick in igaming alone.
Average monthly players in the market increased 5% to 3.6 million during the reporting period.
Jackson highlighted that product improvements had helped drive the market share gains across the UK and Ireland.
The CEO said: “If I look at the market share data among the tier-one operators the market was sort of flat, so plus 1%. And we were up 11%.
“We’re clearly taking share, and I think the team are doing a tremendous job. We got ahead of the changes from a white paper perspective early last year and I think it’s still in very good stead.”
Jackson continued: “We’re also making some very considerable sort of product enhancements [such as] the stuff we’re doing with the acca freeze for Sky Bet and the bet builder product for Paddy Power.
“We’ve also seen very significant growth in gaming in the UK, and a lot of that is driven through how product changes were made as well, such as the introduction of live products on the Sky brands, which have proved to be very popular among recreational customers.
“We’re undoubtedly performing well and taking significant share,” he added.
On the changes implemented due to the white paper, Flutter CFO Paul Edgecliffe-Johnson noted the business was ahead of the competition.
He said: “We’ve been pretty clear in the fact that we’re leading the race to the top from a UK perspective around the safety standards. We took a lot of pain last year.
“The market is broadly flat and some of that is undoubtedly the fact that we got ahead of the changes and other people are belatedly catching up, which would infer that we are ahead.
“I think we were in a very good position, the team are executing really well in the UK, and I’m very proud of what they’re doing,” the CFO added.
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