Flutter Entertainment Reports Revenue and Net Profit Growth for 2024
The growth in revenue was driven by the company's expansion beyond the United States, including the acquisition of the MaxBet brand. Additionally, favorable outcomes in sports betting and significant growth in the iGaming segment contributed to the increase.
In the fourth quarter of 2024, Flutter's revenue from its operations in the UK and Ireland rose by 17% and 23%, respectively. Revenue in these regions amounted to $963 million (₽85.95 billion) and $872 million (₽77.85 billion).
Flutter's American division emerged as the primary source of revenue in the fourth quarter of 2024, generating $1.6 billion (₽142.78 billion). This figure represents a 14% increase compared to the previous year. The company's net profit for the same period was $156 million (₽13.92 billion).
Following the release of the report, Flutter's CEO Peter Jackson commented on the potential for the company to compete for an additional license in Italy. He stated, "The lottery is a completely different type of product compared to Flutter's current offerings in this region. However, the company clearly understands the revenue potential associated with obtaining this license."
The report also highlighted revenue from Flutter's sportsbook operations in the UK and Ireland. In the fourth quarter of 2024, this segment generated $473 million (₽42.24 billion), while online betting contributed an additional $458 million (₽40.89 billion). In the international segment, revenue from land-based sportsbooks increased by 46% to $213 million (₽19 billion), and online betting grew by 14%, reaching $626 million (₽55.87 billion).
It is worth noting that Flutter's American business has reached its "breakeven point" in profitability.
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