Flutter expects 30% jump in 2024 earnings on US growth

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Paddy Power owner Flutter Entertainment has reported an increase in revenues, average monthly players and adjusted EBITDA for the 12 months to the end of December.

But the company's net loss rose to $1.211 billion from $370m in 2022. Flutter is the world's largest online betting company.

Flutter increased its share of the online US gaming market to 26% at the end of last year and said today that it became the market leader in that segment too in January. Flutter started trading for the first time on the New York Stock Exchange on January 29 this year and the company said it had been encouraged by the increased focus from new US investors as a result of its US listing. The company has delisted from Euronext Dublin.

It expects core profit of $1.63 billion to $1.83 billion in its others markets, which include the Paddy Power, Betfair and Sportsbet brands in the UK and Australia.Peter Jackson, Flutter's chief executive, said the company delivered a strong 2023 performance as it continued to deliver on its strategy.

 

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