Online sports betting and internet gambling company Flutter Entertainment has opened a new global capability center in Hyderabad, India, to provide technological and IT support for its gambling brands. The group, headquartered in Dublin and now listed on the New York Stock Exchange, has launched a $3.5 million center at RMZ Spire in Knowledge City.
The office space spans 80,000 square feet, covering three floors, and will accommodate over 700 employees working in areas such as data engineering, game integrity services, procurement, IT security, and customer support. The group stated that the center will play a key role in Flutter Edge's IT projects, focusing on developing and unifying systems and solutions for Paddy Power, Sisal, Sky Betting & Gaming, PokerStars, Sportsbet, and Betfair.
Ashish Sinha, Managing Director of Flutter Entertainment India, said: "We are thrilled to expand our Hyderabad facility to strengthen our operations in India. We are committed to growing with a challenger mindset, leading the global industry, and seizing the significant opportunities offered by India."
Chief Operating Officer Phil Bishop stated: "Entering India is a significant milestone in Flutter's development journey, reflecting our commitment to investing in top talent to drive global business growth. The Hyderabad global capability center, with its centers of excellence in data engineering, game integrity services, customer and human resources operations, procurement, and finance, fully utilizes Flutter Edge and is expected to foster creativity and growth while strengthening our position in the Indian employment and skills market."
Last week, Flutter announced its Q2 and half-year results, raising its full-year financial outlook after outperforming market expectations. Revenue was $3.6 billion, up 20% year-over-year, with the average monthly number of players increasing by 17% to 14.3 million.
Despite a non-cash impact of $147 million from the amortization of intangible assets, Flutter's Fox Option liability generated a fair value gain of $91 million, yet net profit still rose from $64 million in Q2 2023 to $297 million. The group's EBITDA grew by 17%, reaching $738 million.
Meanwhile, following media speculation about the potential sale of its Italian gambling business Snaitech, Playtech Plc has confirmed that it is in talks with Flutter. The company stated that it is currently negotiating "the potential sale of the Snaitech business for approximately £2 billion."
