Paddy Power and Betfair Hit by Data Incident

Flutter Entertainment has confirmed a data breach involving two of its top brands, Paddy Power and Betfair. The company says it has already taken steps to control the situation, notify regulators, and inform affected customers.

Good to know

• No passwords or payment info were leaked.
• Usernames, email addresses, and IP data were among the exposed details.
• Flutter stock still has a Buy rating from Jefferies despite the breach.

On July 8, Flutter revealed that some personal data tied to customers of Paddy Power and Betfair had been exposed. While the company has not released the exact number of impacted users, it described the figure as a “significant number.” Data involved included email addresses, phone numbers, parts of physical addresses, and technical info such as device IDs and IP addresses.

Flutter quickly notified regulators, including the UK Gambling Commission and the Information Commissioner’s Office, and launched an investigation supported by outside cybersecurity experts.

“We can confirm that our Paddy Power and Betfair businesses have suffered a data incident involving personal information for some of our customers,” said a company spokesperson. “Immediately upon becoming aware of this incident, we informed relevant regulators and authorities and initiated a full investigation.”

Flutter urges caution, says info was not misused

So far, Flutter has found no signs of the stolen data being misused. However, the company is warning users to be alert. “There is a risk that criminals may use this information to conduct phishing against you or attempt to impersonate you,” Flutter noted in its customer advisory.

The company added that the breach has been contained, unauthorized access removed, and security steps enhanced to avoid future issues. “Safeguarding and securing our customers’ information is of the utmost importance to us,” it said.

Investors stay optimistic despite incident

Despite the security issue, Flutter continues to draw interest from financial analysts. Jefferies, a global investment firm, recently gave the company a Buy rating and set a price target of $380 per share. That projects a 35% potential increase from current levels.

Jefferies pointed to Flutter’s strong market position in the United States through FanDuel, along with expanding international operations in countries like Italy, Australia, and Brazil. The firm also highlighted Flutter’s recent acquisitions—Italy’s Snai and Brazil’s NSX Group—as smart moves to strengthen its global presence.

The investment firm projects Flutter’s earnings will grow steadily over the next three years, with EBITDA rising at a 17% compound annual rate and sales increasing by 31%. For Q1 of this year, Flutter had already reported revenues of $3.7 billion, fueled by excellent performance of FanDuel.

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