UK-listed gambling giant Flutter Entertainment’s revenue topped £2b in 2019 thanks in part to its FanDuel’s brand US online sports betting market dominance.

Preliminary annual results released Thursday show Flutter (formerly Paddy Power Betfair) generated revenue of £2.14b in 2019, up 14% from 2018’s result. Sports betting revenue was up 113% to £1.67b while gaming rose 19% to £473m, but soaring costs pushed underlying earnings down 15% to £385m and pre-tax profits slumped 38% to £136m.

The Paddy Power Betfair online unit (aka European operations) reported revenue rising 6% to just over £1b but earnings slipped 3% to £307m and operating profit dipped 4% to £263m as the cost of sales rose nearly one-quarter on tax hikes in the UK and Ireland. Gaming revenue performed well, rising 26% to £340m, but sports was down 2% to a demonic £666m.

Flutter’s Paddy Power brand and the Adjarabet business in the Republic of Georgia did their bit, while the Betfair betting exchange revenue fell 5% due in part to “market switch offs.”