Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth
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Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth

U.S. revenues up by 41% year-on-year

by - Tuesday, March 26th, 2024 1:35
Flutter revenues

Flutter Entertainment has released its full year 2023 report revealing a 24.6% increase in group revenue to $11.79 billion.

Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth

The report also revealed that Flutter’s U.S. sports betting operations saw FanDuel report a 43% gross sports revenue share while the company is now the leading iGaming provider in the United States with a 26% market share.

2023 Key Highlights

Group

  • Average monthly players  – 12.3 million, up 20.3%
  • Revenue – $11.79 billion, up by 24.6%
  • Net loss – $1.2 billion, up by 227.3%
  • Further Adjusted EBITDA – $1.8 billion, up by 45.4%

U.S.

  • Average monthly players – 3.2 million, up by 38%
    • Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth
  • Further Adjusted EBITDA – $167 million, up by $430 million
  • Gross sports revenue share of 43%
  • Net sports revenue share of 53%
    • Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth

Non-US

    Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth
  • Revenue – $7.3 billion, up by 16%
  • Further Adjusted EBITDA – $1.7 billion, up by 10%

Peter Jackson, Chief Executive, commented:

Flutter Revenues up by 24.6% in 2023 as U.S. Continues to Drive Growth

The year has started well with very good momentum continuing into Q1. Record Super Bowl engagement contributed to US revenue growth of 55.6% for the period from January 1, 2024 to March 17, 2024. We also launched in North Carolina where we have been really pleased with performance to date. Outside of the US, revenue grew 6.3% as the market driven decline in Australia was more than offset by the growth of our UKI and other International businesses. We believe that our strategy and competitive advantages position us well to continue to grow the business through both organic and inorganic opportunities.”

This is the first financial report released since Flutter moved its primary listing to the NYSE.

Natasha Lyndon

Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.