Flutter Entertainment Raises 2024 Guidance Following Strong Q3 Performance
In the US, Flutter saw a stellar start to the new NFL season, with peak wagers per minute surpassing even the Super Bowl LVII
Flutter Entertainment has released its Q3 2024 results, reporting a notable revenue growth of 27%, which exceeds market expectations. As a result, the company has raised its revenue and adjusted EBITDA guidance for the remainder of the fiscal year.
Peter Jackson, CEO of Flutter Entertainment, commented on the strong performance:
"Flutter had an excellent quarter with revenue growth accelerating to 27 percent, well ahead of market expectations, and increases to our revenue and adjusted EBITDA guidance for 2024."
In the US, Flutter saw a stellar start to the new NFL season, with peak wagers per minute surpassing even the Super Bowl LVII. The company’s proprietary product offering played a crucial role in driving strong parlay penetration and boosting live betting engagement.
Beyond the US, all Flutter divisions showed impressive growth. In the UK, a broader range of products across both sportsand iGaming fueled growth in both player numbers and revenue. Sisal, a key Flutter brand in Italy, gained significant market share, and the company plans to expand further with the addition of Snai. In Australia, Sportsbet has also shown positive trends, contributing to the overall success of the company.
Jackson highlighted the group’s future prospects, stating:
"We believe that the group has exciting growth prospects due to our unparalleled leadership positions across the world, underpinned by access to the Flutter Edge." He also noted that Flutter expects to have significant capital available for investment in the coming years and expressed excitement about launching the share repurchase program in Q4.
In other industry news, BetHog, a new cryptocurrency-based casino and sportsbook, has raised $6 million in seed funding. Meanwhile, Tabcorp Holdings has been fined $262,920 for taking illegal online in-play sports bets in Australia.
Despite these developments, Flutter’s solid performance in Q3 2024 sets the stage for continued growth, supported by its diverse global presence and strategic investments.
