** MEDIA ADVISORY **
FanDuel Group 2018 Results Highlight Strategic Strength
March 6, 2019, New York, NY — Paddy Power Betfair plc, parent company of FanDuel Group, today announced its 2018 financial results, highlighting the success of FanDuel Group in the United States.
Key highlights include:
- Strategic strength: The Supreme Court’s decision to repeal PASPA in May 2018 is transforming the sector and created a significant long-term growth opportunity. FanDuel Group benefits from well-established brands, over 8 million registered users, four complementary product verticals, a leading geographic footprint, global operational expertise
anda well-capitalized parent organization, giving it a strong position to capitalize on this opportunity.
- Strong revenue growth: FanDuel Group revenue in 2018 was up 18% versus 2017 and has accelerated in 2019 to date.
- Early podium position secured in sports betting: The strength of FanDuel Group’s positioning has been very evident in the company’s experience in New Jersey to date, culminating with the company taking over half of
totalsports betting market handle in recent months. This was due to a focus on:
- Combining generous promotions and competitive pricing with its market-leading app
- Providing more markets for customers to bet on
- Leveraging fantasy sports, with approximately half of sports bettors to date being existing fantasy sports customers
- Cross-sell to Betfair Casino from December, which has already contributed to accelerated growth
- Fantasy, TVG & Casino businesses contribution: FanDuel Group’s fantasy sports, TVG racing, and Betfair Casino businesses continue to grow and have strong momentum in 2019. Continued investment in product enhancements and promotions is continuing to build a valuable customer base (active customer numbers were up 14% in 2018) and delivering strong revenue growth (up 13%).
“With proven consumer demand and tremendous market opportunity, our first year since the merger of FanDuel and Betfair US has been an incredible success,” said Matt King, CEO of FanDuel Group. “Our unique assets and access to global resources will allow us to continue this momentum and strengthen our positioning in the US market.”