• Loading stock data...
Sunday, April 21, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

Flutter Entertainment Cashes In on FanDuel

  • Flutter Entertainment posted a 27% increase in revenue to roughly $9.19 billion.
  • FanDuel has a 50% market share in the U.S. sports betting market.
A view of the Flutter Entertainment headquarters and brand portfolio.
Flutter Entertainment

FanDuel, which claims it has a 50% market share in the U.S. sports betting market, continues to pay off for its parent company.

Flutter Entertainment, which also owns Betfair, Paddy Power, and PokerStars, posted a 27% increase in revenue to roughly $9.19 billion for its preliminary 2022 results, with average monthly players increasing 26%, attributed to expansion in the U.S. and benefits of the acquisitions of Sisal and Tombola. 

The increase in revenue was driven by a 67% sales jump in FanDuel, which is on track to become profitable this year.

In the U.S., Flutter’s revenue reached $3.2 billion.

But Flutter took a hit of around $47.8 million in December due to “customer friendly results” during the World Cup and in the Premier League. 

As of Dec. 31, the company’s net debt was around $5.5 billion.

Public Possibilities

Earlier this month, Flutter said its board is consulting with shareholders to gauge their interest in a listing on the U.S. stock exchange.

The company’s board reached the view that “an additional U.S. listing of Flutter’s ordinary shares will yield a number of long-term strategic and capital market benefits,” according to the Financial Times. 

The company would take a vote at its annual meeting in April after consulting with shareholders. The vote would require 75% approval.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.
Alex Rodriguez, Anthony Towns

Timberwolves’ Playoff Start Is Clouded by a Messy Ownership Dispute

No one knows who the Timberwolves’ owner will be in the future.

Diamond Sports Group Is About to Survive Bankruptcy. Will It Matter?

The bankrupt company faces key questions relating to both programming and distribution.

The Questions Are Mounting for ‘Spulu’ As Lawmakers Demand Answers

A pair of high-powered Congressmen are demanding answers about the forthcoming service.
podcast thumbnail mobile
Front Office Sports Today

Why Ian Rapoport Lives for the NFL Draft’s Chaos

0:00
0:00

Featured Today

Everything You Need To Know About the Legal Attempts To Kill the ACC

Four lawsuits involving the conference, Clemson, and FSU could determine the future.
April 20, 2024

A Bare-Knuckle Fighter Won His Pro Debut. The Far Right Scored a Marketing Win

With Proud Boys sponsoring him, experts say extremist groups will use his success to elevate their ideologies and recruit new believers.
April 7, 2024

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
DraftKings
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.