Flutter Entertainment has delivered some strong numbers to start of the year, especially in the US market where its FanDuel brand continues to grow. The company shared its latest quarterly results, showing how its efforts in online betting and gaming are paying off.
Good to know
- FanDuel’s Q1 handle reached $14.6 billion, up 8% year-over-year.
- Flutter’s US adjusted EBITDA rose more than fivefold to $161 million.
- Total users across Flutter platforms grew to nearly 14.9 million.
FanDuel helped drive Flutter’s US revenue past $1.1 billion in the first quarter, pushing the total revenue from all US operations to almost $1.7 billion. That means an 18% increase from the same period in 2024, despite a tough March Madness season that did not favor sportsbooks. iGaming also made a strong contribution, growing 32% to $472 million.
FanDuel reported over 4.3 million monthly active players, a rise of 11%. Its gross gaming revenue market share in the US held steady at 43%, while Flutter’s share in US iGaming reached 27%. On top of that, FanDuel’s sportsbook net revenue margin came in at 7.8%.
CEO Peter Jackson noted, “FanDuel continues to win in the US, retaining leadership positions in both online sports betting and iGaming.” He also pointed to the company’s recent expansion in Italy through its acquisition of Snaitech as a way to strengthen its global position.
Outside the US, revenue from Flutter’s international operations totaled just under $2 billion, barely moving from last year’s results. However, there were regional differences. While Southern Europe and Africa saw 14% and 15% increases, regions like Brazil and Asia Pacific experienced sharp drops—44% and 13%, respectively. The UK and Ireland remained solid contributors, generating $882 million for the quarter.
International adjusted EBITDA dipped slightly to $518 million, down 1% from last year. Sportsbook revenue overseas fell by 2%, but iGaming revenue rose by 4%, hitting $1.1 billion.
Back in the US, Flutter expects more growth. It has adjusted its full-year forecast, now predicting 2025 US revenue between $7.2 billion and $7.65 billion. Adjusted EBITDA for the region is expected to land between $1.01 billion and $1.25 billion. If the numbers fall in the middle of those projections, that would mean a 28% revenue increase and a 123% jump in adjusted EBITDA compared to 2024.
Flutter also turned last year’s Q1 net loss of $177 million into a $335 million profit this time around. Group-wide adjusted EBITDA rose 20% to $616 million. The company added more users across all its platforms too, with total users climbing by 8% year-over-year.
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