Flutter Entertainment has invested USD 3.5 million to establish a global capability centre in Hyderabad's Knowledge City, marking a significant expansion in India. The 80,000-square-foot facility will accommodate over 700 employees in various roles, with plans to increase headcount to 900 by 2024. The expansion aligns with Flutter's global strategy of leading the industry through innovation in iGaming and sports betting. The company also aims to have 40% of leadership positions filled by women by 2026. Additionally, Flutter has pledged GBP 30,000 to support local initiatives, reinforcing its commitment to growth and corporate social responsibility.
Flutter Entertainment, a prominent player in the online sports betting and iGaming industry, has allocated USD 3.5 million to launch a global capability centre (GCC) at RMZ Spire in Hyderabad's Knowledge City. This strategic investment is a testament to the company's resolve to enhance its presence in India, a market of immense potential that aligns seamlessly with Flutter's broader global ambitions. Ashish Sinha, the managing director of Flutter Entertainment, expressed his excitement about the expansion, highlighting the significance of this development within the company's growth strategy.
Sinha conveyed enthusiasm for the Hyderabad expansion, highlighting its critical role in strengthening Flutter's foothold in India. He noted that India offers significant opportunities and emphasised how this growth initiative seamlessly aligns with the company's global strategy of leading the industry through continuous innovation in iGaming and sports betting technology. The newly established hub spans 80,000 square feet and occupies three floors, housing over 700 employees. These professionals will work in various roles, including data engineering, game integrity services, HR operations, procurement, safety and security, and customer operations.
This significant expansion not only enhances the company's capacity but also highlights its intent to further strengthen its workforce. Flutter plans to continue recruiting talent in data analytics and engineering, aiming to increase its headcount to 900 by 2024. Beyond its infrastructure and workforce expansion, Flutter Entertainment is also committed to contributing to the local community. The company has pledged GBP 30,000 for 2024 to support various local initiatives in and around Hyderabad, demonstrating its dedication to corporate social responsibility. This contribution highlights Flutter's recognition of the importance of giving back to the community as it expands its global footprint.
The Hyderabad teams are confident of playing an instrumental role in supporting Flutter's global growth, particularly across its distinguished brands, including Paddy Power, Sisal, Sky Betting & Gaming, PokerStars, Sportsbet, and Betfair. Flutter's strategy includes an ambitious goal to ensure women hold 40% of leadership positions in this office by 2026, reflecting the company's commitment to fostering diversity and inclusion. Phil Bishop, Chief Operating Officer of Flutter Entertainment, remarked that this expansion represents a significant milestone in the company's growth journey.
Bishop highlighted the expansion as a crucial milestone in the company's growth, emphasising its dedication to investing in top-tier talent to drive global business expansion. His comments highlight Flutter's ambition to leverage its substantial scale and challenger mindset to revolutionise the industry. Already a global leader in its field, Flutter Entertainment reported a remarkable USD 11.79 billion in revenue for the financial year 2023, marking a 25% increase year-on-year. This upward momentum continued into the first quarter of FY25, with the company generating USD 3.61 billion in global revenue, further cementing its dominance in the online sports betting and iGaming sectors.
In conclusion, Flutter Entertainment's investment of USD 3.5 million in a new global capability centre in Hyderabad highlights its strategic expansion into India and commitment to industry innovation. The 80,000-square-foot facility will support over 700 employees, with plans to increase to 900 by 2024, and aims for 40% of leadership roles to be filled by women by 2026. This expansion aligns with Flutter's broader global strategy and reinforces its commitment to corporate social responsibility, highlighted by a GBP 30,000 donation to local initiatives. The move supports Flutter's ongoing growth, reflected in its strong financial performance and ambitions in the iGaming and sports betting sectors.
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