Online gambling titan Flutter has raised its full-year profit forecast for 2025 following a record-breaking quarter fuelled by its US operations.
The world’s leading online sports betting operator reported a 16 per cent increase in revenue to $4.2bn (£3.12bn) in the three months leading up to 30 June, with earnings soaring by 25 per cent to $919m, as reported by City AM.
FanDuel, Flutter’s mobile gaming network in the US, achieved a record $400m in adjusted earnings.
Flutter now anticipates annual revenue growth of 23 per cent, reaching $17.3bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to surge by 40 per cent to $3.3bn.
The group saw an increase in average monthly players from 14.3m to 16m.
Revenue from international operations rose by 15 per cent following the company’s acquisition of Italian sports betting and gaming firm SNAI and Brazilian betting operator NSX.
Flutter hails listing move
Last year, Flutter dealt a significant blow to the London Stock Exchange by stating that a New York listing would be its “natural home.”
In 2024, the Paddy Power owner outlined plans to make its secondary Wall Street listing a permanent fixture.
Peter Jackson, Flutter’s chief executive, stated in his second-quarter letter to shareholders that the company had become a “well-established business within the US capital markets” after transferring its primary listing.
“Positioning Flutter closer to its primary market in the US was a core objective of our US listing, and the inclusion in [CRSP and Russell] demonstrates the clear benefits of this strategy, with the vast majority of our trading volumes now passing through NYSE.”
“We believe we also remain well-placed for admission to other major US indices,” he added.
Following in Flutter’s footsteps, UK fintech star Wise announced in June this year that it would shift its primary listing to the US in pursuit of greater liquidity.
