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Flutter Growth Numbers

May 3, 2023 1

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Flutter Growth Numbers

Flutter, the parent company of FanDuel, reported a 46% growth in revenues in constant currency to £2.41bn for Q1 2023. CEO Peter Jackson attributed the strong results to the company’s focus on product improvements, with FanDuel achieving a 50% market share in US sports betting and US revenues up 92%. The company is confident it will continue to take share and aims to make a profit this year. Flutter received shareholder support for its dual listing in the US, which will take place by the end of the year. The company has already taken leadership in responsible gambling in the UK and Ireland, where revenues rose 17%. Internationally, Flutter’s revenues were up 85%, driven by the Sisal business in Italy. The company is optimistic about the trajectory of its business and sees opportunities for bolt-on M&A.

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