Flutter Entertainment Reports Strong Q4 2024 Performance, Signals Bullish 2025 Outlook

Flutter Entertainment enjoyed a robust fourth-quarter 2024 performance, exceeding expectations with better-than-expected earnings and a confident outlook for 2025. The global gaming giant maintained momentum, supported by stable revenue growth in its key markets, an expanding player base, and strategic acquisitions.

Overall Results Remain Consistent

Flutter recorded a 14% year-on-year revenue increase, reaching $3.79 billion for the quarter, fueled by growth in its sportsbook and iGaming segments. Adjusted EBITDA rose 4% to $655 million, reflecting solid operational efficiency despite macroeconomic pressures. The company’s EBITDA margin declined to 17.3% from 19.1% in Q4 as Flutter invested in customer acquisition and product enhancements.

I am proud of the progress we made during 2024 as we delivered against our strategic priorities and enhanced our leadership positions.

Peter Jackson, Flutter Entertainment CEO

Net profit for the quarter bounced back to $156 million, a substantial turnaround from the $902 million loss reported in Q4 last year. For the full year 2024, Flutter reported a 19% rise in revenue to $14.05 billion, with adjusted EBITDA up 26% at $2.36 billion. Average monthly players (AMPs) also rose a healthy 13% year-on-year, settling at 13.9 million.

All Regions Performed Well

Flutter’s US business, fueled primarily by FanDuel, remained a key revenue driver, growing 14% year-on-year to $1.61 billion in Q4. Sportsbook revenue was up 8% despite unfavorable sports betting outcomes, while iGaming grew 43%, assisted by a 37% ramp-up in AMPs, particularly in slots and live casino. However, adjusted EBITDA for the US segment declined 3% to $163 million, with an EBITDA margin of 10.1%.

Our market-leading product proposition delivered strong customer engagement with another quarter of increased player frequency.

Peter Jackson, Flutter Entertainment CEO

UK & Ireland revenue increased 20%, with sportsbook up 31% and iGaming up 16%. For the international segment, revenue increased by 20%, with Sisal, Junglee, and newly acquired MaxBet, which contributed $58 million of Q4 revenue. In Australia, robust player engagement did not stop revenues from sliding 8% as market trends and increased taxation in Victoria led to a 35% decline in adjusted EBITDA.

The Company Is Positioned for Further Growth

Flutter announced a shift in its financial reporting structure, combining UKI, Australia, and International into a new Flutter International segment while maintaining separate reporting for its US operations. CEO Peter Jackson was confident in the company’s future, highlighting FanDuel’s US leadership, continued market share gains in the UK and Italy, and strategic acquisitions in Brazil and Italy.

We exited the year with a strong leadership position, underpinned by unparalleled scale and product innovation, which positions us exceptionally well for 2025.

Peter Jackson, Flutter Entertainment CEO

Jackson also highlighted the record-breaking Super Bowl, drawing attention to FanDuel’s 3 million active customers, who placed 17.7 million bets, amounting to $470 million in wagers. He noted that the company’s priority remained on creating value for our customers and shareholders and sustaining natural growth in promising jurisdictions.