DUBLIN, Aug 13 (Reuters) - Flutter raised its
full-year guidance after a much better than expected second
quarter and said it has no plans "at this stage" to follow rival
Draftkings ( DKNG ) in adding a surcharge to customer's
winnings in high-tax U.S. states.
Flutter, the world's largest online betting company, expects
to boost its previous forecast for a jump of around 30% in
full-year core profit thanks to a 17% rise in second-quarter
profit, bookmaker-friendly sports results and third-quarter
momentum.
It expects core profit of $680 million to $800 million in
its U.S. Fanduel brand versus the $635 million to $785 million
seen in March and last year's $167 million, which was its first
full year of profitability in the rapidly growing market.
Core profit of $1.69 billion to $1.85 billion is now seen
its others markets, which include the Paddy Power and Betfair
brands in Britain and Sportsbet in Australia. That compares to
the $1.63 billion to $1.83 billion forecast previously.