Sky Bet owner Flutter Entertainment reveals drop in annual revenue after friendly sports results

Last year, Leeds-based Sky Betting & Gaming revealed it had developed its own version of the government’s ‘KickStart’ scheme to help young people from disadvantaged neighborhoods jump-start careers in the fast-growing tech sector.

The group recorded a 24% fall in underlying pre-tax profits to £620m for 2021, despite revenue rising 17% at constant exchange rates to £6bn.

On a net profit basis, it went to a loss of £288m from £1m profit in 2020.

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He said the group’s revenue growth had slowed to 2% in the first seven weeks of 2022, but said it was expected to pick up as the year progressed.

Flutter added that it was “closely” monitoring the situation with Russia and Ukraine, but had “significantly reduced” its exposure to the Russian online market since its takeover and merger with The Stars Group in 2020.

The Russian market brought £41m to the group last year, including £19m from Ukraine.

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Leeds-based Sky Betting & Gaming is developing its own version of the ‘Kickstart’ program to c…

Flutter is the holding company for a range of international brands and operations including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Betfair, Adjarabet, TVG and Junglee Games.

Last year, Leeds-based Sky Betting & Gaming revealed it had developed its own version of the government’s ‘KickStart’ scheme to help young people from disadvantaged neighborhoods jump-start careers in the fast-growing tech sector.

Steve Birch, CEO of Sky Betting & Gaming, said the company is targeting its recruitment campaign so that it can represent all the communities around its base in Leeds.

He made the comments at an event to celebrate the opening of the company’s new office in Wellington Place, Leeds. The event was hosted by Gabby Logan, the former international gymnast and broadcaster, and included a panel with sports stars Jason Robinson, Danny Mills and Hannah Cockcroft.