• Loading stock data...
Saturday, June 22, 2024

FanDuel Owner Posts $383M Loss in 2021

  • FanDuel owner Flutter Entertainment reported a pre-tax loss of $383 million in 2021.
  • The world's largest gambling group also saw revenue grow thanks to the U.S. gambling market.
Flutter Entertainment/Design: Alex Brooks

FanDuel owner Flutter Entertainment reported a pre-tax loss of $383 million in 2021 behind efforts to curb gambling addiction, but saw revenue grow thanks to the U.S. gambling market. 

Flutter — the world’s largest listed gambling group — generated $8 billion in revenue in FY2021, a 37% increase year-over-year. The favorable results were driven by FanDuel, which leads the U.S. with a 40% market share among online sportsbooks as of Q4 2021.

FanDuel pocketed $2 billion in revenue in FY2021, a 113% uptick compared to the year prior. Flutter bought Fastball Holding’s stake in FanDuel in 2020 for $4.2 billion, increasing its share from 58% to 95% for a total estimated value of $11.2 billion.

Flutter’s efforts to curtail problematic gambling have been costly and hampered potential profits. 

  • The company banned credit card deposits in Ireland.
  • It launched a trial limit of $13 on online slot stakes in the U.K. 
  • The company plans to tie staff bonuses to safer gambling targets.
  • It is introducing mandatory deposit limits for customers under the age of 25. 

Flutter also attributed its losses to marketing costs associated with customer acquisition in the U.S. and the reopening of leisure venues following temporary closures caused by COVID.

Big Spending 

In December 2021, Flutter purchased Italian gambling operator Sisal for $2.2 billion. Previously bought by CVC Capital Partners in 2016 for $1.1 billion, Sisal — Italy’s oldest gaming company — has access to Flutter’s gaming content and its existing brands PokerStars and Betfair.

Copy Link
Link Copied
Link Copied

What to Read

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.

More States Hiking Sports Betting Taxes, Eyeing Revenue Windfall

Illinois more than doubles its peak tax rate on sportsbook operators, with others likely to follow.

How Duracell is Making Fans Fall in Love with F1 Racing

Nobody expected this household brand to become F1’s newest darling.
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path


Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
Mar 11, 2024; Denver, Colorado, USA; Toronto Raptors center Jontay Porter (34) reacts after a play in the third quarter against the Denver Nuggets at Ball Arena.

Conspirator Arrested in Federal Complaint Tied to Jontay Porter Scheme

Authorities arrested Long Phi Pham at JFK airport Monday.
Tucupita Marcano
June 4, 2024

Lifetime Ban Is More Proof of Sports’ Complicated Betting Relationship

MLB suspends five players, including one permanently, for betting on big league games.
Dec 14, 2023; Los Angeles, CA, USA; Ippei Mizuhara, the translator for Los Angeles Dodgers designated hitter Shohei Ohtani, during an introductory press conference at Dodger Stadium.
June 4, 2024

Shohei Ohtani’s Former Interpreter Pleads Guilty to Stealing $17 Million, Tax Fraud

Mizuhara faces up to 33 years in prison, with sentencing in October.

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Jul 9, 2023; Phoenix, Arizona, USA; Pittsburgh Pirates Tucupita Marcano (30) fields a ground ball against the Arizona Diamondbacks at Chase Field.
June 4, 2024

MLB Bans Padres Infielder for Betting on Baseball, Suspends Four Others

On the Pirateslast season, Tucupita Marcano bet on Pittsburgh’s own games.
June 3, 2024

Padres Infielder Could Face Lifetime MLB Ban Over Gambling

As a Pirate last season, Tucupita Marcano allegedly bet on Pittsburgh games.
May 20, 2024

MLB Officially Investigating Gambling Allegations Against Ohtani’s Close Friend and Longtime Teammate

David Fletcher reportedly used the same bookmaker as Ohtani’s former interpreter.
May 8, 2024

Former Ohtani Interpreter Pleading Guilty to Bank Fraud, False Tax Return

Ippei Mizuhara faces up to 33 years in federal prison for his crimes.