Flutter Entertainment solidifies its position as a global iGaming leader with an impressive 8% year-on-year revenue increase to $3.67 billion in Q1 2025.
Key Takeaways:
- Flutter’s Q1 revenue rises to $3.67 billion, up 8% year-on-year
- FanDuel maintains leading U.S. market positions in sports betting and iGaming
- Full-year 2025 guidance updated following Snai and NSX Group acquisitions
Q1 Financial Performance
Flutter Entertainment’s Q1 2025 results demonstrate robust growth across most verticals. The company reported net income of $335 million, a significant improvement from the $177 million loss in Q1 2024. Adjusted EBITDA increased by 20% to $616 million, with the margin improving to 16.8% from 15.1% year-over-year.
The company’s earnings per share (EPS) turned positive, reaching $1.57 compared to a loss of $1.10 in the previous year. Adjusted EPS grew by 51% to $1.59.
U.S. Market Dominance
Flutter’s U.S. operations, led by FanDuel, continued to excel. The division saw an 18% revenue increase to $1.67 billion, driven by 15% growth in sportsbook and a 32% rise in iGaming revenue. FanDuel maintained its leading positions in the U.S. market, capturing a 43% share in sports betting GGR and 27% of national iGaming GGR for the quarter.
International Performance
International operations reported relatively flat revenue of $1.99 billion. Growth in Southern Europe, Africa, Central and Eastern Europe, and the UK and Ireland offset declines in the Asia-Pacific region. In the UK and Ireland, where Flutter operates brands such as Paddy Power, Betfair, and PartyPoker, iGaming revenue grew by 9%, supported by new premium content.
Strategic Acquisitions and Future Outlook
Flutter recently completed the acquisition of Italian omnichannel Snai and is set to finalize a 51% stake in Brazil’s NSX Group for $350 million. These strategic moves have prompted the company to update its full-year 2025 guidance. Group Revenue is now projected to reach $17.08 billion, with Adjusted EBITDA expected to be $3.18 billion, representing growth of 22% and 35%, respectively.
CEO Peter Jackson commented on the company’s performance: ‘I am pleased with the performance of the business during the first quarter, with the scaling of our U.S. business driving a step change in the earnings profile of the Group.’
He added, ‘The global regulated market opportunity is significant, and Flutter remains uniquely positioned to win.’
As Flutter Entertainment continues to expand its reach and enhance its technology capabilities across core markets, the company appears well-positioned to capitalize on the growing global iGaming industry.
