Flutter Entertainment posted strong financial results for Q1 2025, with revenue reaching $3.67 billion, an 8% year-over-year increase. Net income swung to $335 million, a substantial improvement from a $177 million loss in Q1 2024. The performance was fueled primarily by continued momentum in the U.S. market.
U.S. Market Performance:
- Revenue up 18% YoY, driven by:
- +15% in sports betting
- +32% in iGaming
- FanDuel maintained market leadership:
- 43% share in U.S. sports betting GGR
- 27% share in iGaming
- U.S. adjusted EBITDA rose to $161 million (up from $26 million YoY)
- Monthly active players grew 11% in the U.S. to 4.3 million
Total active players globally: 14.88 million (+8% YoY)
International Market Highlights:
- Revenue flat YoY; +3% at constant currency
- Regional growth:
- Southern Europe & Africa: +14%
- Central & Eastern Europe: +15%
- Asia Pacific: –13%
- Brazil: –44%
- iGaming revenue globally: +4%, supported by UK, Ireland, Southeast Asia
Snai Acquisition and Strategic Expansion:
- Snai acquisition in Italy completed April 30
- Adds $850 million in expected annual revenue
- Boosts Flutter’s presence in Southern Europe
Earnings & Outlook:
- EPS: +2.67 YoY; Adjusted EPS: $1.59 (+51%)
- FY 2025 guidance raised:
- Revenue: $17.08 billion (+22% YoY)
- Adjusted EBITDA: $3.18 billion (+35% YoY)
Flutter attributes growth to U.S. scale, strong brand performance, and benefits from recent M&A activity, reinforcing its strategic positioning across key global markets.