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Paddy Power Betfair and FanDuel parent Flutter Entertainment cautions that the widespread cancellation and suspension of sports events would entail a £90-110m hit to full-year earnings.
In the case, horse racing is canceled in Australia, Britain, and Ireland due to the Covid-19 pandemic, the Dublin-based Group projected that such a scenario would cut down earnings before interest, tax, depreciation and amortization (EBITDA) by around £30m a month. In 2019, the company’s EBITDA was £426 million not including its investment in the US.