Flutter Entertainment, the parent company of FanDuel and FoxBet, grew revenue 27% year-over-year during its third quarter. The company expects a loss of $212-$239 million for the year due to U.S. customer acquisition spending.
Flutter’s U.S. business was bolstered by FanDuel, which grew revenue to approximately $209 million, up 82% compared to last year. Flutter’s U.S. sportsbooks maintain 47% market share across the 11 states they operate in.
More than 450,000 new customers were acquired in the quarter when the company launched in Illinois and Tennessee. FanDuel expects to launch in Michigan and Virginia in the coming months.
Flutter Q3 by the Numbers:
$1.05 billion in revenue, up 27% year-over-year
$209 million in U.S. gaming revenue, up 82%
1.8 million active customers for FanDuel