Flutter Entertainment, the global leader in online sports betting and iGaming, has released its financial results for the fourth quarter and full fiscal year of 2024, highlighting substantial growth and significant global expansion.
Fourth Quarter 2024 Financial Highlights
Revenue: Flutter reported revenues of $3,792 million for the quarter, marking a 14% increase from the same period last year. This rise is primarily attributed to ongoing expansion in key markets and the launch of innovative products.
Net Income: The company reversed a net loss of $902 million in 2023 to a net income of $156 million in 2024, positively influenced by improved operational efficiency and profitability of its market initiatives.
Adjusted EBITDA: Adjusted EBITDA was $655 million, up 4% year-over-year, reflecting effective management and strong strategic execution.
Full Year Performance
Annual Revenues: For the full year, revenues reached $14,048 million, up 19% compared to 2023.
Monthly Player Growth: The average monthly players (AMPs) increased by 13% annually, highlighting Flutter’s success in attracting and retaining active users.
Outlook and Projections for 2025
United States: Revenue in existing states is expected to grow by 33%, reaching $7.72 billion, with an anticipated Adjusted EBITDA of $1.4 billion. This growth is attributed to the ongoing strengthening of the FanDuel brand and expansion into new states.
International Market: Excluding the U.S., projected revenues are $8.25 billion, with Adjusted EBITDA of $1.85 billion, reflecting steady growth in key markets like the UK and Italy, along with emerging gains in Brazil and India.
Strategic Initiatives and Product Development
Flutter continued its focus on product innovation, highlighting the launch of new features on its betting platform and expanding its iGaming offerings.
The planned integration of Snai in Italy and the recent acquisition of MaxBet are part of Flutter’s consolidation and expansion strategy, which will strengthen its presence in European and emerging markets.
CEO Remarks, Peter Jackson
Peter Jackson, CEO of Flutter, expressed satisfaction with the results: "2024 was a year of exceptional transformation and growth for Flutter. We have expanded our global footprint and reinforced our market-leading position through innovative product strategies and expansion into new markets. Looking ahead, we are excited about the opportunities in 2025, especially with the integration of new acquisitions and the ongoing development of our product offerings."
Commitment to Sustainability and Corporate Responsibility
Aligned with its positive impact plan, Flutter has enhanced its responsible gaming initiatives, introducing advanced player protection tools and participating in global forums to promote safe betting practices.
In conclusion, Flutter Entertainment’s 2024 results highlight a year of robust growth and an optimistic outlook for 2025, with the company well-positioned to capitalize on growth trends in the global sports betting and iGaming sector.
https://www.flutter.com/media/0llbpdpo/q4-2024-earnings-release.pdf?utm_source=linkedin&utm_medium=organic&utm_campaign=earnings&utm_term=q4&utm_content=quote
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