FanDuel Spurs Flutter’s Success In Q3

For the three months ended September 30, Flutter reported increasing its group earnings from £1.89 billion to £2.03 billion, up 13% from a year earlier.

A big reason for this growth is the performance of FanDuel, which is based in the U.S. 온라인경마

U.S. group sales rose 12% year-over-year in the third quarter to £668 million from £598 million, no doubt because sports betting applications accounted for 40% of the total gaming revenue market share of online sports betting.

“We are pleased to have made great progress, especially in the United States,” said Peter Jackson, CEO of Flutter. “We are the first online operator to achieve structural profitability, and as profit margins expand significantly, strong growth in EBITDA in 2023 will continue beyond 2024.”

Since the start of the NFL season in the U.S. in September, FanDew has increased its new player acquisition figure, equivalent to 2.6 million users, by 38% during the third quarter.

Jackson said, “We look forward to our plans for the month of sports enrichment in November and December as we implement our industry-leading winning strategy in combination with FanDuel Advantage.”

FanDuel’s sales were up 52% year-over-year, ranking second in iGaming with a 23% market share. Despite these surprising numbers, DraftKings surpassed FanDuel for the first time in the U.S. iGaming market share, generating about 31% of online sports betting and casino gaming revenue during the third quarter ended Aug. 23, Eilers & Krejcik said.

In the future, Plotter plans to adjust its earnings before interest, tax, depreciation and amortization (EBITDA) to approximately £3.75 billion and £140 million. This will achieve structural benefits throughout the year, despite continued investment in customer acquisition to drive long-term growth.

“I don’t expect it to be different at the end of this year,” Jackson said. “I don’t expect it to be different next year.” “We’re going to buy as many businesses as we can.”

One thing that will change in 2024 is that Flutter exists on the New York Stock Exchange, with the company announcing that it expects this to happen sometime in the first quarter of next year.

To continue to prepare for the move, Flutter will delist Euronext Dublin, Ireland’s main stock exchange, as it “believes it is appropriate to keep only two listings to minimize regulatory complexity.””

“We are making good progress towards a U.S. listing that will bring significant benefits to the group by accessing the world’s deepest and most liquid capital markets,” Jackson said. “Overall, the significant potential of U.S. growth and the ability to leverage gains of scale across diversified portfolios outside the U.S. underpins our confidence in our substantial and sustainable long-term revenue growth potential.”