Flutter first-half earnings fall 20%, expects full-year turnaround

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Adjusted EBITDA fell to 476 million pounds ($580 million)from 597 million a year ago and the record 684 million reached during the stay-home gambling boom of the COVID-19 hit first half of 2020. Excluding the U.S. business, first-half earnings were down 11%.

The Paddy Power, Betfair and FanDuel owner said it expected full-year core earnings of between 1.29 billion pounds and 1.39 billion pounds, excluding a U.S. loss of 225 million to 275 million pounds.

It posted core earnings of 1.24 billion pounds in 2021.

($1 = 0.8205 pounds)