U.S revenue jumps 92, firmly on track for 2023 profit
Product improvements helps outperform UK market CEO
Newly acquired Italian unit performing exceptionally well

DUBLIN, May 2 Reuters Flutter grew its revenue by 29 on a proforma basis in the first quarter, driven by a near doubling in its fast growing U.S. unit and a sharp recovery in Britain and Ireland, the world39;s largest online betting company said.

Led by its Fanduel brand, Flutter maintained its leading 50 share of the U.S. sports betting market after revenue jumped 92 yearonyear on a constant currency basis.

The Paddy Power, Betfair and Sky Bet owner also expanded its revenue by 17 and average monthly players by 11 in Britain and Ireland UKI, which it said reflected the reshaping of its secondlargest division to draw more recreational gamblers.

UKI revenue had fallen sharply in the same period last year, partly due to the impact of measures to curb gambling addiction.

Chief Executive Peter Jackson put about half the growth down to product improvements and said competitors belatedly adopting safer gambling measures may also have helped Flutter outperform the market, which he estimated was flat yearonyear.

I said back in March I felt like we had our mojo back and you can see why I was talking about the UKI business so positively, Jackson told an analyst call.

Last week Flutter said new British government plans to fight problem gambling would cost about 50 to 100 million pounds in lost revenue from…