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Flutter Entertainment has revealed its Q3 2024 financial results, showing notable expansion in a number of important areas. The quarter’s total sales of $3.2 billion was a 27% year-over-year increase. Additionally, the business recorded an astounding 74% growth in adjusted EBITDA, reaching $450 million.
“We had an excellent quarter with revenue growth accelerating to 27%, well ahead of market expectations,” said Peter Jackson, CEO of Flutter Entertainment. “In the US, we had a fantastic start to the new NFL season, with peak wagers per minute already higher than Super Bowl LVII. Our proprietary product offering continued to drive strong parlay penetration as well as a step up in live betting handle.”
Flutter’s Q3 success was mostly due to the US market, as revenue reached $1.25 billion, a 51% increase over the previous year. US iGaming grew by 46% to $368 million, while US sportsbook income alone amounted to $822 million, a 62% year-over-year rise.
Flutter’s impressive performance was also aided by international markets. While international revenue jumped by 15% to $781 million, UKI revenue increased by 18% to $846 million. Australia’s overall revenue increased by 12% to $371 million.
In addition to these positive revenue figures, Flutter’s average monthly players (AMPs) increased by 16%, bringing the total to 12.9 million. The company’s strong market share of 35% in gross gaming revenue (GGR) was supported by a 41% share in sportsbook GGR, 43% in net gaming revenue, and a 25% share in iGaming GGR.
Even though revenue and EBITDA increased, Flutter’s Q3 2024 net loss of $114 million was far lower than the $262 million loss from the prior year. Strong revenue performance, which countered rising costs, was credited by the corporation for this improvement. Flutter has increased its revenue and adjusted EBITDA projection for the entire year, demonstrating its continued optimism.