Flutter Entertainment Reports Q3 2023 Revenue Increase
Flutter Entertainment, a leading gambling and gaming company, has released its Q3 2023 report, revealing a 13% increase in group revenue to £2.03 billion ($2.49 billion/€2.38 billion). The report shows that non-U.S. territories contributed £1.36 billion ($1.67 billion/€1.55 billion) to the total revenue figure, up by 10% compared to Q3 2022. The U.S. reported the highest increase in revenue, with a year-on-year jump of 20%.
Overall, revenues across all other markets grew, with the exception of Australia, which saw an 18% drop in revenues from £319 million ($391.9 million/€365.9 million) in Q3 2022 to £262 million ($321.9 million/€300.5 million) in the latest reporting period.
Sports wagering made up over £1.1 billion ($1.35 billion/€1.26 billion) of all revenue, while gaming accounted for £914 million ($1.12 billion/€1.04 billion). Gaming revenues were the main driver of growth, improving on Q3 2022’s figure by 26%.
Key Highlights of Q3:
– Group revenue – £2.03 billion ($2.49 billion/€2.38 billion), up by 13%
– Sports wagering revenue – £1.1 billion ($1.35 billion/€1.26 billion), up by 4%
– Gaming revenue – £914 million ($1.12 billion/€1.04 billion), up by 26%
– Average monthly players (AMPs) – 11.1 million, up by 16%
In the U.S., revenue hit £668 million ($820.9 million/€766.1 million), up by 12%, with an average monthly player increase of 38%. The U.S. also reported a gross sports revenue share of 40% and a net sports revenue share of 47%. FanDuel iGaming, one of Flutter Entertainment’s brands, holds a 23% market share and saw revenue growth of 52%.
In the UK & Ireland, revenue stood at £566 million ($820.9 million/€766.1 million), up by 11%, with an average monthly player increase of 5%.
Peter Jackson, Chief Executive of Flutter Entertainment, commented on the report, expressing the company’s confidence in its long-term growth potential and the significant benefits that its planned U.S. listing in 2024 will bring.
The Q3 report reflects Flutter Entertainment’s strong performance across different markets and its strategic positioning for future growth and expansion. The company’s focus on gaming and sports wagering has proven to be successful, particularly in the U.S. market, and it anticipates continued growth and earnings potential in the long term.