Flutter Entertainment has reported great financial performance for Q1 2025, powered by solid growth in its US business and increased overall player engagement.
The group’s revenue for the quarter rose 8% year-over-year to $3.67 billion, while net income surged to $335 million, a sharp recovery from a loss of $177 million recorded in the same quarter last year.
Adjusted EBITDA also showed significant improvement, increasing 20% to $616 million, reflecting enhanced operational efficiency.
Flutter’s strong results were primarily driven by continued success in its US operations, notably through its FanDuel brand.
Revenue from the US grew 18%, reaching nearly $1.7 billion, despite what CEO Peter Jackson called “adverse March Madness sports results.” Within this, online sports betting revenue climbed 15% to $1.2 billion, maintaining a 43% market share in gross gaming revenue.
US iGaming saw even stronger growth, rising 32% to $472 million. Monthly active players across the US jumped 11%, hitting 4.3 million.
CEO Peter Jackson hit home about the US market’s importance, stating, “FanDuel continues to win in the US, retaining leadership positions in both online sports betting and iGaming, while we saw a positive performance within International.”
Flutter’s international segment showed modest but steady results. Revenue held broadly steady, rising 1% to around $2 billion. Growth was particularly strong in Southern Europe and Africa, up 14%, and Central and Eastern Europe, up 15%.
The UK and Ireland markets also reported stable performance, with revenue up 2%. These gains helped offset declines in Asia Pacific (down 13%) and Brazil, which fell sharply by a whopping 44%.
Looking ahead, Flutter raised its 2025 full-year revenue guidance, reflecting confidence from its strong start to the year.
The addition of recent acquisitions, such as Italy’s Snai and NSX, is expected to further strengthen performance, contributing an additional $1.07 billion in revenue and $120 million in adjusted EBITDA this year alone.
Jackson also highlighted Flutter’s strategy of balancing organic growth with strategic acquisitions, commenting, “We are delivering against our strategic priorities, with clear optionality as an ‘and’ business that can create significant value.”
The group remains committed to its goal of achieving full-year adjusted EBITDA between $2.75 billion and $3.2 billion, only compounding on Flutter’s solid position in the fast moving growing global betting and gaming market.
