DUBLIN, Nov 9 Reuters Flutter expects fullyear earnings excluding the nascent U.S. market to be at the bottom of its previously forecast range, the world39;s largest online betting company said on Thursday as it reported an 8 yearonyear rise in thirdquarter revenue.
Flutter said in August that it expected fullyear adjusted exU.S. core profit to rise to between 1.44 billion and 1.6 billion pounds 1.77 billion to 1.97 billion. Since then, sports results have been very customerfriendly, it said.
The Paddy Power, Betfair and Fanduel owner became the first online betting operator to turn a profit in the U.S in the first half and said on Thursday that, despite ongoing investment, it expects fullyear U.S. earnings of 140 million pounds versus its previous estimate of 90 million to 190 million pounds.
Rival 888 Holdings lowered its annual core profit expectations in September after a 10 decline in thirdquarter revenue while Ladbrokes owner Entain also warned on annual and thirdquarter online net gaming revenue.
Flutter39;s gaming revenue far outperformed sports betting in the quarter. Overall revenue in its largest division, U.S. marketleading brand Fanduel, rose 12 year on year or 20 on a constant currency basis, compared with firsthalf growth of 71.
Revenue increased by 16 in its international division, led by Italian market leader Sisal. UK and Ireland revenue was up 11 and Flutter said it continued to take market share online and in retail shops.
Reported revenue fell…