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Flutter Entertainment profits slump on merger costs

The gambling operator saw a spike in poker activity during lockdown
Flutter Entertainment profits slump on merger costs

Flutter Entertainment (FLTR) half-year profits crashed after the parent of the Paddy Power and Betfair brands racked up nearly £200m in costs connected to its merger with Canadian gambling operator The Stars Group (TSG). Flutter was also badly hit by coronavirus-induced disruption to the sporting calendar, although housebound poker players helped to offset the toll.

IC TIP: Hold at 12,740p

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