A few days ago, publicly listed gaming group Flutter Entertainment reported impressive revenue growth of 25% for 2023. While Flutter's revenue was GBP 7.69 billion last year, it will be GBP 9.51 billion in 2023. Things won't be quite so smooth for the competition from 888 Holdings. Here, revenues will fall by 8% in 2023.

Executives at publicly traded gaming group Flutter Entertainment must have been delighted with their recent revenue figures. The "FanDuel" brand has been particularly successful for Flutter in recent times. This is a subsidiary with around 1,500 employees that offers an online casino as well as sports betting and fantasy sports services in various US states. "FanDuel" already has a market share of over 40% in the US sports betting market.

Flutter Entertainment is a publicly listed gaming group based in Dublin, Ireland. The company was formed just a few years ago by the merger of Betfair and Paddy Power and employs over 21,500 people worldwide.

Flutter Entertainment could increase turnover by a quarter by 2023

According to the company's figures, Flutter had a turnover of £9.51 billion last year. This is equivalent to more than eleven billion euros. By comparison: In 2022, the group's turnover was still GBP 7.69 billion. As a result, Flutter has increased its turnover by an impressive 25% in the space of a year. According to Flutter's CEO, Peter Jackson, the company's recent successes have been driven primarily by the UK and US markets. Just a few days ago, on 29 January, Flutter shares made their debut on the American stock exchange.

Swedish games developer Evolution Gaming has also been doing well of late. In November last year, we reported that its live casino business alone had grown by almost 25% in the third quarter.

888 Holdings: total revenue to fall by 8% in 2023

Rival 888 Holdings has obviously fared much worse than Flutter over the past year. A few days ago, the Gibraltar-based group also published its revenue figures for the last quarter and for 2023 as a whole.

As a result, 888 is facing an 8% drop in revenue for 2023. In total, the company recorded revenues of GBP 1.71 billion. This is equivalent to around €2.16 billion. While the UK was one of Flutter Entertainment's "top markets", the country was more of a problem child for 888. In contrast, 888 was successful in its core markets of Italy and Spain, where double-digit growth was achieved in both cases. As recently as February 2022, we at GambleJoe reported that 888 Holdings had achieved record revenue.

Founded in 1997, 888 Holdings is an international gaming group with approximately 1,350 employees. The company, which owns well-known brands such as Mr Green, William Hill, 888poker, 888sport and 888casino, is now listed on the London Stock Exchange.

Image source: https://pixabay.com/de/illustrations/trainer-brett-klasse-klassenzimmer-3679422/

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