By Kyle Morris
Flutter Entertainment PLC said Tuesday that it booked a pretax loss for 2021 after incurring a 543 million pounds ($728.4 million) charge for noncash amortization from acquired intangibles.
The FTSE 100 gambling and betting group said pretax loss for 2021 was GBP288 million compared with a profit of GBP1 million for 2020.
Revenue for the year was GBP6.04 billion compared with GBP4.41 billion in 2020.
Earnings before interest, taxes, depreciation and amortization excluding the U.S. was GBP1.24 billion. At its third-quarter update in November, Flutter said, excluding its U.S. business, it expected adjusted earnings for 2021 to be between GBP1.24 billion and GBP1.28 billion.
For the first seven weeks of 2022, performance has been in line with expectations, with revenue up 2% on year, reflecting strong comparatives, it said. Revenue growth is expected to accelerate as 2022 progresses, assuming a normal run of sports results and reflecting phasing of sports margin comparables and safer gambling measures taken in 2021.
Write to Kyle Morris at kyle.morris@dowjones.com
