Flutter Entertainment announced that it would be pulling out its PokerStarts brand in China, Macau, and Taiwan. This is part of the group’s plan to decrease the business’ exposure to unregulated markets after its merger with the Stars Group.
In its announcement of the group’s financial resu;ts for the first six months of the year, Flutter said:
“There were a small number of TSG jurisdictions that [it] had previously determined it would not operate in and in such places, we have now switched these markets off.”
The group has now placed steps in place to pull out from the Chinese, Taiwanese, and Macau markets, where online gambling is not allowed. It did not disclose whether operations in other markets are closing or will close.
“As confirmed in our interim results statement last week, we have been reviewing the compliance standards and market exposures of the combined group following our transaction,” a Flutter Entertainment spokesperson explained. “While we are yet to fully complete our review, we have identified areas where improvements need to be made.”
The combined impact of these measures, according to the spokesperson, will be around £65 million on revenue and added that this mosly “relates to aligning our responsible gambling/compliance procedures and putting Flutter’s enhanced checks in place across the PokerStars business.”