Publisher: EDM Sauce
Date: 2021-08-16T18:22:51 00:00
Author: https www facebook com kris novak 10
Twitter: @edmsauce
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The betting behemoth’s first loss comes as a result of a massive tax bill that wipes out
The betting behemoth’s first loss comes as a result of a massive tax bill that wipes out profits.
Flutter Entertainment, which owns Betfair and Paddy Power, has recorded record £86 million first-half losses due to massive tax payments.
Its revenues nearly doubled to £3.1 billion in the six months to the end of June, thanks to growth in the United States, a return to normalcy in the sports calendar, and a betting boom sparked by the Euros. Flutter’s profits, on the other hand, were wiped out by a £163 million tax bill.
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