Published
OnlineCasinoFinancialSports Betting

Flutter Q4 trading update: Gaming revenue up 19%; sports 15%

The company is set to report full-year 2023 numbers in US GAAP and US dollars on 26 March 2024, providing further insights into its financial performance and future outlook.

flutter trading update
Listen To Article

Flutter Entertainment has released a provisional trading update for the fourth quarter ending 31 December 2023.

The operator reported a 15% rise in Q4 revenue, totalling £2.67bn ($3.39bn), with a breakdown showing a 15% increase in sports revenue (£1.66bn) and a 19% increase in gaming revenue (£1.02bn).

The group's performance in the US demonstrated momentum, with average monthly players increasing by 33%, sportsbook stakes by 53% and gaming revenue by 49%.

US Sportsbook FanDuel maintained its market position with a 43% Q4 gross revenue market share. FanDuel Casino secured the #2 iGaming brand spot with a 26% market share in Q4.

However, Q4 revenue growth in the US was reported to have been impacted by customer-friendly sports results, leading to net revenue of £1.14bn, £147m below the previous guidance. Flutter highlighted a 35% approximate flow-through to adjusted EBITDA due to this revenue miss.

In regions outside the US, the UK & Ireland reported a revenue increase of 19%, Australia reflected a 2% decline and international markets showed a 4% growth, driven by 'consolidate and invest' markets. 

Flutter anticipates its US listing on the NYSE to be effective on 29 January 2024, subject to the approval of its Form 20-F Registration Statement. Additionally, the company completed the acquisition of MaxBet, a local brand in Serbia, on 9 January 2024. 

In related news, Flutter Entertainment announced changes to its Board of Directors, with Richard Flint, a key figure since March 2020, choosing not to seek re-election at the upcoming Annual General Meeting scheduled for 1 May 2024. 

Flint played a role in shaping Flutter post-merger and was the Executive Chair of Sky Betting & Gaming. This announcement followed Flutter's US listing and Dublin delisting plans at the end of 2023.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...