UK-listed gambling giant Flutter Entertainment says it will continue to pay its furloughed staff through the COVID-19 pandemic “for as long as possible” using its own resources rather than rely on government bailouts.

In a Q1 trading update issued Friday, Flutter said revenue over the first three months of 2020 was up 16% year-on-year to £547m, with sports betting up 13% to £407m and gaming up one-quarter to £140m.

The figures are obviously far less flattering in the period following the suspension of UK and Irish racing, which pushed revenue down 32%. However, the fact that racing continues in Australia and the US has helped to offset a 46% decline in sports revenue following the pandemic-related suspension of live sports events.

The Paddy Power Betfair (PPB) Online segment remains the top breadwinner, with Q1 revenue rising 9% to £247m, as gaming’s 17% rise to £88m aided sports’ more modest 6% rise to £159m.