Flutter had a strong Q4 2024, reporting solid financial performance across its global markets. The company’s revenue increased by 14% year-over-year, highlighting its continued expansion. Flutter Q4 2024 earnings also reflect a turnaround in net income, bouncing back from losses in 2023.

  • Revenue for Q4 2024 reached $3.79 billion, up 14% from $3.31 billion in Q4 2023. The full-year revenue rose by 19% to $14.05 billion.
  • Net income surged to $156 million in Q4, a sharp contrast to the $902 million loss in the same period last year. The full-year net income reached $162 million, up from a $1.21 billion loss in 2023.
  • Adjusted EBITDA for the quarter grew by 4% to $655 million, while the full-year figure increased by 26% to $2.36 billion.
  • Free cash flow soared by 175% in Q4 to $473 million, with a full-year increase of 181% to $941 million.

US market

US Q4 revenue growth reached 14%, supported by strong performance in AMP and iGaming. Sportsbook revenue saw an increase despite challenges.

  • Average Monthly Players (“AMPs”) rose 15%, pushing overall US Q4 revenue growth higher. Sportsbook revenue increased by 8%, while iGaming revenue jumped 43%.

  • Sportsbook revenue growth came despite adverse sports results. A 12% rise in handle was partly offset by a 30 basis point decline in net revenue margin to 6.7%.

  • iGaming revenue surged 43% thanks to a 37% rise in AMPs. Growth was particularly strong in slots and live casino segments, driving further momentum in the sector.

  • Adjusted EBITDA reached $163 million, slightly down from $168 million in Q4 2023. The adjusted EBITDA margin stood at 10.1%, with cost of sales rising to 58.6% due to higher Illinois taxes and adverse sports outcomes.
  • FanDuel’s customer engagement hit new highs, with active players placing 17.7 million bets and wagering $470 million on the Super Bowl.

International markets  (EX-US)

Group Ex-US revenue saw solid growth, rising by 14%. This was fueled by a stronger sportsbook margin, favorable sports outcomes, and strong iGaming momentum. The company also reported an adjusted EBITDA increase of 6% to $492M.

  • UK and Ireland showed strong results, supported by continued innovation in sportsbook and iGaming products. Growth was sustained through enhanced product offerings and customer engagement.

  • The international segment benefited from the Flutter Edge strategy, with ‘consolidate and invest’ revenue up 18% excluding M&A. Markets in Italy, India, Turkey, Georgia, and Brazil performed well.

  • Australia’s performance reflected anticipated market challenges, yet player engagement trends were positive. The country marked its third consecutive quarter of AMP growth. Despite expected market declines, player activity remains encouraging.

  • Group Ex-US adjusted EBITDA increased 6% to $492M, supported by strong revenue expansion. In constant currency, EBITDA growth stood at 8%. This reflects ongoing operational efficiency and market strength.

  • Flutter expanded its global presence with the acquisition of MaxBet, strengthening its market position in Eastern Europe.

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