Flutter Entertainment has released its financial results for Q4 and fiscal year 2024, showing significant year-over-year growth. The company posted $14.05 billion in revenue for FY2024, a 19% increase, and reported a net income of $162 million. This marks a sharp turnaround from the $1.2 billion net loss recorded in 2023.
CEO Peter Jackson and CFO Rob Coldrake attributed this rebound to a 2024 tax credit linked to “historic US losses” from the previous year. Flutter’s US operations generated $5.8 billion in revenue, with a midpoint guidance projection of $7.7 billion for 2025.
The company also reported a 26% increase in adjusted EBITDA, reaching nearly $2.4 billion for FY2024. Flutter’s active user base expanded as well, with 13.9 million average monthly players, reflecting a 13% year-over-year rise.
Jackson highlighted the company’s innovation-driven success, stating, “Outside of the US, our commitment to first-to-market product innovation led to market share gains in key markets including the UK and Italy, while in Australia, we saw encouraging trends in our player base.”
FanDuel’s Performance and Market Trends
FanDuel continued its dominance as the leading sports betting and iGaming operator, holding 43% of the gross gaming revenue (GGR) market share in sports betting and 26% in iGaming.
In Q4 2024, US revenue grew 14% year-over-year to $1.6 billion, though adjusted EBITDA declined by 3% to $163 million. Despite revenue growth, Coldrake noted that “unfavorable sports results” affected profitability, with FanDuel facing its “most customer-friendly” NFL outcomes in two decades. These results cost Flutter an estimated $550 million in revenue and $360 million in adjusted EBITDA.
Sportsbook revenue climbed 8% year-over-year to $1.1 billion, while iGaming surged 43% to $441 million. FanDuel’s sports betting handle grew 12% to nearly $16.4 billion.
Despite the quarterly EBITDA decline, Flutter’s overall Q4 2024 adjusted EBITDA rose 4% to $655 million. The company also reported a $156 million net income for the quarter, reversing a $902 million net loss from the previous year. Average monthly players increased by 7%, reaching 14.6 million.
Looking ahead, Flutter plans to repurchase up to $1 billion in shares in 2025. The company remains optimistic about iGaming expansion in the US and is monitoring opportunities in prediction markets. However, tax increases in Illinois cost the company an estimated $50 million in revenue.
Flutter expects its upcoming launches in Missouri and Alberta to impact earnings, with a projected $90 million in negative revenue for 2025. The company’s Alberta debut is scheduled for early 2026.
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