Irish revenues from stable of companies up 8% above $300m but US subsidiary clocked income at $4.4bn
Flutter has decided to seek shareholder approval at its annual general meeting in Dublin on May 1st to move its main listing to New York. Photograph: Spencer Platt/Getty ImagesThis is clear from it’s recent 10k filing — the American equivalent of an annual report. While Irish revenues
On the flip side, the US subsidiary has recorded huge losses over the past three years, as Flutter invests heavily to capture market share there, with the market being deregulated following a legal ruling in 2018. It was $264 million in the red last year, down from a loss of $429 million in 2022 and $768 million the year before.By contrast, Flutter made a profit of $144 million from its Irish operations last year, albeit that was less than half the $298 million figure recorded in 2022.
Shareholders will be hoping that Flutter’s US operations hit the profit jackpot soon, so dividend payments can resume. The gambling company hasn’t paid a dividend since May 2020 and has no immediate plans to do so.
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