Paddy Power owner Flutter Entertainment paid chief executive Peter Jackson more than €19 million in salary and bonuses last year, new figures show.
Flutter, one of the world’s biggest betting businesses, moved its main stock market listing to New York in May 2024 as the US grew into its biggest market.
The group paid Mr Jackson $21.17 million (€19.5 million) in total last year according to accounts filed with the US regulator, the Securities and Exchange Commission (SEC).
Awards of shares in the global business worth $17 million accounted for most of his pay, which was close to three times the $7.8 million that Flutter paid Mr Jackson in 2023, the filings show.
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His basic salary of $1.52 million and a bonus of $3.4 million accounted for most of the rest of the chief executive’s pay.
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Under a deal that Flutter agreed with Mr Jackson last year, he will take a cut in basic salary to $1.39 million this year.
However, his cash bonus, tied to the group’s performance, will increase to between 200 per cent and 400 per cent of pay from 190 per cent and 285 per cent currently.
Mr Jackson’s basic salary last year was only marginally above the $1.51 million that Flutter paid him in 2023.
Last year he was entitled to receive shares worth up to six times his salary if the company reached certain performance targets, the SEC filings note. A separate scheme allowed him to receive up to twice his salary.
Flutter posted a $162 million profit for 2024 as revenues surged, spurred by rapid growth in its US business.
Revenue increased 19 per cent for the year, to $14 billion, annual results published last month by the group showed.
Amy Howe, chief executive of its main US business, FanDuel, received $11.5 million, the same SEC returns show. Share awards totalling $9.2 million accounted for most of this. Her basic salary was $1 million, while Flutter paid her a cash bonus of almost $1.2 million.
Along with Paddy Power and FanDuel, Flutter owns Betfair, Sky Bet, Poker Stars and Sportsbet in Australia. The group has businesses across the globe. Its main base remains in Clonskeagh, Dublin, although it has moved its operational headquarters to the US.
Flutter bought FanDuel in 2018, shortly after the US federal courts ended a ban on individual states legalising gambling.
The business has grown strongly since. This year, almost 18 million US customers bet a total of $470 million on February’s Super Bowl, when the Philadelphia Eagles beat the Kansas City Chiefs 40 – 22.
Flutter expects global revenues this year to approach $16.4 billion, and to generate cash of up to $3.4 billion.
