Sportsbet parent, the New York and London-listed Flutter Entertainment, expects higher earnings from the country’s largest bookmaker this year despite a torrid quarter during which returns were crunched as customers placed fewer bets on horse racing.
Flutter told investors overnight on Tuesday that Australian earnings before interest, tax, depreciation and amortisation this year were projected at $US270 million ($407 million), up from $US250 million, underpinned by sports results swinging in its favour.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
