The financial data for the second quarter of 2024 have been made public by Flutter Entertainment, which shows notable development throughout its business, especially through FanDuel, its majority-owned sportsbook. When compared to the same quarter last year, the company’s revenue increased by 20% to $3.6 billion.
First achieving this title in Q1 2024, FanDuel is still going strong as the top sportsbook and iGaming operator in the US. In Q2 2024, sportsbook revenue jumped by 41% year over year to around $1.1 billion. Maintaining a solid market share, FanDuel took home 38% of all online gross gaming revenue (GGR) in the United States. This comprises a dominant 51% share of GGR from sportsbooks and a 25% share of GGR from iGaming.
Company-Wide Growth and Strategic Advances
Across all regions, Flutter reported impressive gains, with adjusted EBITDA growing by 17% to $738 million and net income soaring by 364% to $297 million. Notably, U.S. revenue alone brought in $1.5 billion in Q2 2024, reflecting a 39% increase from the previous year. The UKI market also showed strong performance, with an 18% year-over-year growth in revenue, totaling $928 million.
The “disciplined approach to customer acquisition and our best-in-class product,” according to Flutter CEO Peter Jackson, are the reasons behind the company’s success in the United States. He also mentioned that FanDuel’s sportsbook has the most affordable prices available. He also emphasized developments in their in-house software, which helped to improve MLB parlay choices and boost live betting handling during important events like the NBA playoffs.
Jackson gave a positive outlook for the company’s future while highlighting the strategic investments made in acquiring new clients and the continuous enhancements made to the user experience. He mentioned that FanDuel Casino would further improve their client offers and strengthen their market position once their migration to proprietary technology is finished in Q2 2024.
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