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TIME: Flutter Entertainment: 2024 TIME100 Most Influential Companies
May 30, 2024
Flutter Entertainment has earned a spot on TIME100’s list of the most influential companies in 2024. The article acknowledges Flutter as the world’s largest betting company and emphasizes key achievements. Notably, Flutter stands out as the sole gambling company featured on this year’s list.
Until 2018, sports betting was illegal in every state but Nevada. Now, some 40% of Americans say they wager on everything from which team will win the Super Bowl to which player will be crowned baseball’s rookie of the year. But how did sports betting take the us by storm?
Peter Jackson joined The Economist's “Money Talks” podcast to discuss the legalization of sports betting in the US, and how it has taken the country by storm ever since. The podcast is supplemented by an article which covers the growth and history of betting in the US, the rise of technology and how it has propelled the industry forward and created ever-improving sports betting experiences, what the future holds and where the growth lies, and safer gambling.
Listen to the podcast.
Flutter has once again topped the EGR Power 50, with its sustained US and global growth, strong momentum in the UK and Ireland, and well-executed M&A seeing Flutter hold on to the number one spot.
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Bloomberg reported that Flutter's Q3 results were strong, with revenue up 27% to $3.25 billion, surpassing analysts' expectations of $3.03 billion. Despite a challenging start to the fourth quarter due to unfavorable betting outcomes, particularly in the NFL and parlay bets, Flutter raised its guidance, reflecting stronger-than-expected performance outside the U.S. The publication also noted that Flutter is capitalising on the booming U.S. sports betting market, having authorized a $5 billion share buyback program and significantly raised its U.S. gambling market outlook.
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Key media coverage
February 10, 2025
Sports bettors are increasingly tracking their wagers, prompting platforms like FanDuel to enhance responsible gaming tools. Nearly half of FanDuel’s seven million customers used its My Spend tool to monitor spending. New deposit alerts help users set budgets. Legal Super Bowl betting was projected to reach $1.6b nationwide.
Read the article.
February 6, 2025
Peter Jackson spoke to Baron’s Editor at Large, Andy Serwer, for the ‘At Barron’s’ podcast. From Flutter’s position as the leading online sports betting gaming and iGaming company in the world, to our challenger mindset and the huge $370bn market opportunity we have to go after, you can listen to the full interview here.
November 12, 2024
Reuters reported that Flutter nudged up its full-year guidance for the second successive quarter after its non-U.S. brands drove better-than-expected third-quarter revenue growth. While Flutter's growth has been transformed by a gambling boom in the nascent U.S. market, where its FanDuel unit is the market leader, core profit at its more established brands in Britain, Europe and Australia jumped by 24% to $392 million in the quarter.
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August 18, 2024
The Racing Post reports that Flutter has outlined plans to help drive the growth and popularity of women's sport, citing its new "Betting on Equality" article. Flutter said that operators had "an immense opportunity to enable the growing wave of women's sports fans to engage with their favourite teams, participate on game days and build community". It also highlighted Flutter increasing its partnerships with women's sport and engaging to a greater extent on social media, given this is a key area where fans interact and follow sporting athletes and teams.
Read the article.
September 25, 2024
The Financial Times reports that Flutter expects to more than double its core profit by 2027, as the FanDuel and Paddy Power owner bets that most Americans will eventually engage in sports betting as more states liberalise the sector. Flutter reported that it now expected its adjusted core profit to hit “over $5bn” in 2027, compared with this year’s estimate of $2.5bn. The US will account for nearly half, generating approximately $2.4bn of adjusted core profit that year. Flutter also predicts that the size of the US sports and online casino market will reach $63bn by 2030, up more than 50 per cent from its previous forecast in 2022, fuelled by rapid growth of sports betting.
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September 25, 2024
Flutter Entertainment announced plans to repurchase up to $5 billion of its shares in response to the growing US sports betting market, which the company predicts will reach $63 billion at maturity. Flutter's revenue is expected to increase 14% annually, and the company has been expanding its business through acquisitions and internal growth. With its focus on the US market, Flutter is optimistic about its future prospects.
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September 17, 2024
Flutter Entertainment is acquiring Italian gambling company Snaitech from Playtech for $2.56 billion in a cash deal. The acquisition aligns with Flutter's strategy to expand in international markets and is expected to boost earnings per share upon completion by the second quarter of next year. Flutter CEO Peter Jackson highlighted the strategic and financial benefits, including accelerating Snaitech’s growth by leveraging Flutter's products and global capabilities. Playtech, confirming the sale, plans to return €1.7 to €1.8 billion to shareholders through a special dividend after the deal closes.
September 12, 2024
Flutter Entertainment has agreed to acquire a 56% stake in Brazil's NSX Group for $350 million, as part of its strategy to expand internationally by investing in leading gaming companies. The deal includes Flutter contributing its Betfair Brazil business, with the option to increase its stake in NSX after five and ten years. NSX is the fourth-largest online gaming operator in Brazil, holding 12% of the sports betting market. The acquisition, pending regulatory approval, is expected to close in mid-2025.
August 13, 2024
The Financial Times reported on Flutter’s Q2’s 2024 earnings, highlighting the company's dominant 51% market share in the US through its FanDuel platform. Despite rising tax costs, Jackson confirmed that Flutter won’t increase prices for customers, leveraging its strong market position to outpace competitors. With $3.6 billion in revenue last quarter, far exceeding Wall Street expectations, and a 17% increase in monthly users, Flutter continues to solidify its status as a leader in the global betting industry.
July 22, 2024
In an opinion article in the Racing Post, Ian Brown writes that based on the huge amount of customer and racing data that Flutter has as a betting operator, it is apparent that racing is facing the challenge of an ageing core audience that is not being replaced by a younger cohort. Although more funding may help in the short term, Ian urges industry players and other racing stakeholders to come together to work on "real strategic change" to resolve structural problems.
1st April 2024
The Financial Times explores how Flutter plans to try and turn its fast-growing US customer base into potential shareholders as it prepares to move its primary listing to the New York Stock Exchange. The article notes how the move to a primary listing will allow the company to meet a key criterion for potential index inclusion in the S&P 500.
March 26, 2024
The FT’s influential investment column, Lex, analyses Flutter’s financial performance in FY23, suggesting its “confidence is not misplaced”, before going on to discuss the Group’s strong growth prospects in the US market and ability to far outpace both its London-listed and US rivals.
January 29, 2024
This article highlights Flutter’s opportunity to gain market share and expand in the U.S. It emphasizes that Flutter already outperforms most of its competitors; however, there is a remaining opportunity to attract a greater audience as the company continues to establish its presence in the U.S.
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