Flutter's Q1 Income Surges, FanDuel Reigns Supreme over U.S. Market
Fluttering Past the Competition: Flutter's Q1 Revenue Soars 8%, Hitting $3.67 Billion
The Skinny:
- Flutter's Q1 revenue skyrockets, hitting $3.67 billion, up a whopping 8% year-on-year.
- FanDuel holds onto top spot in U.S. sports betting and online gaming markets.
- Full-year 2025 projections revised after Snai and NSX Group acquisitions.
Q1 Financial Figures: Taking a Giant Leap
Flutter Entertainment's Q1 2025 numbers reveal a jump in growth across the board. The company reported net income of $335 million, a stark contrast to the $177 million loss in Q1 2024. Adjusted EBITDA climbed a terrific 20%, landing at $616 million, with the margin improving from 15.1% to 16.8% year-on-year.
Flutter's earnings per share (EPS) jumped to a positive $1.57, compared to a loss of $1.10 in the previous year. Adjusted EPS surged by an impressive 51% to $1.59.
U.S. Dominance: FanDuel's Roll of the Dice
FanDuel, Flutter's U.S. ace in the hole, continues to crush it. The division saw an 18% revenue increase to $1.67 billion, thanks to 15% growth in sportsbook and a staggering 32% surge in online gaming revenue. FanDuel remains unbeaten in the U.S. market, grabbing a 43% share in sports betting GGR and 27% of national online gaming GGR for the quarter.
International Showdown: Hitting the Jackpot
International operations reported stable revenue of $1.99 billion. A boost in Southern Europe, Africa, Central and Eastern Europe, and the UK and Ireland balanced out declines in the Asia-Pacific region. In the UK and Ireland, where Flutter operates Paddy Power, Betfair, and PartyPoker, online gaming revenue grew a solid 9%, fueled by new premium content.
Game-Changing Acquisitions: Tilting the Field in Flutter's Favor
Flutter recently snapped up Italian omnichannel Snai and will soon own 51% of Brazil's NSX Group for $350 million. These strategic moves have prompted the company to revise its full-year 2025 guidance. Group Revenue is now expected to hit $17.08 billion, with Adjusted EBITDA estimated to reach $3.18 billion, signifying a 22% and 35% increase respectively.
Peter Jackson, Flutter's CEO, had this to say about the company's performance: "I'm thrilled with the Q1 performance, with the scaling of our U.S. business putting a major dent in the earnings profile of the Group."
He goes on, "The global regulated gambling market is massive, and Flutter stands head and shoulders above the rest."
As Flutter Entertainment extends its grasp and modernizes its technology footprint in key markets, the company seems primed to seize opportunities in the burgeoning global online gambling space.
- Flutter's Q1 earnings per share (EPS) jumped to a positive $1.57, reflecting a significant improvement from the loss of $1.10 in the previous year.
- The acquisition of Brazil's NSX Group for $350 million is one of the strategic moves that led Flutter to revise its full-year 2025 guidance, with Group Revenue expected to hit $17.08 billion.
- Peter Jackson, Flutter's CEO, attributed the company's strong performance to the scaling of its U.S. business, which he pointed out was putting a "major dent" in the earnings profile of the Group.
- Flutter's technology footprint is modernizing as the company seeks to seize opportunities in the global online gambling space, positioning itself as a market leader.
