Flutter chief received 17% rise in total pay last year to £2m

Paddy Power owner Flutter Entertainment paid chief executive Peter Jackson a total of £2 million (€2.8m) last year, 17 per cent more than in 2018, its annual report shows.

Irish-headquartered betting giant Flutter confirmed on Monday that it would hold its annual general meeting in Dublin on May 14th.

The group, which owns Paddy Power and Betfair, plans to merge with Skybet and Full Tilt Poker parent The Stars Group to create a betting business potentially worth €12 billion.

Flutter’s annual report shows that it paid Mr Jackson £2 million in salary, bonus and other benefits in 2019, compared with £1.66 million a year earlier, his first year at Flutter’s helm.

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Mr Jackson’s basic salary was £737,000 last year, while he received a pension contribution of £111,000 and benefits including medical insurance of £7,000. His total fixed pay for 2019 was £855,000 against £822,000 the previous year.

Flutter paid its chief executive a bonus of £973,000, a 56 per cent increase on the £622,000 he received in 2018. Other benefits, including the value of buyout options, came to £272,000 in 2019, from £220,000 in the previous year.

Chief financial officer Jonathan Hill received £1.35 million last year, including a salary of £484,000.

Flutter appointed Mr Hill as chief financial officer in October 2018. His total package for working in the role during the closing months of that year came to £149,000.

Neither Mr Jackson nor Mr Hill took part in Flutter’s long-term incentive plan, which grants share options to key staff. The scheme began in 2017.