Flutter Reports Impressive Q4 Results and Outlines Strategy to Sustain Growth in 2024

Flutter Entertainment, a well-known betting and gaming operator, has recently released its latest trading update, providing details on its performance for the fourth quarter of 2023. The unaudited report, unveiled on Thursday, showcases substantial growth in revenue and the number of average monthly players (AMPs) for the latest trading period.

In the fourth quarter of 2023, Flutter reported a total revenue of £2.67 billion ($3.38 billion), marking an 11% increase compared to the same period in 2022. Additionally, the company’s AMPs increased by 12% year-over-year to 13.6 million.

The breakdown of the £2.67 billion ($3.38 billion) in revenue shows significant growth in sports betting and gaming revenue. Flutter’s sports revenue in Q4 2023 reached £1.66 billion ($2.1 billion), up by 8% compared to the corresponding period in the previous year.

Aside from the Q4 results, the company’s report also revealed its fiscal year results. For the fiscal year ending December 31, 2023, Flutter reported a 20% year-over-year increase in AMPs, with revenue reaching £9.5 billion ($12 billion), representing a 24% increase compared to the corresponding period in 2022.

Peter Jackson, Flutter’s chief executive, attributed the company’s strong performance in Q4 to its leading local brands and global Flutter Edge advantages. He emphasized FanDuel’s significant position in the US betting and iGaming verticals, despite customer-friendly sports results, particularly in November’s NFL games. Jackson expressed confidence in the underlying momentum of the business heading into 2024.

Jackson also noted Flutter’s strong performance in markets outside the US, particularly in the gambling sector across the United Kingdom and Ireland. He mentioned the company’s upcoming listing with the New York Stock Exchange, expressing excitement about the listing and its potential for further growth momentum in the coming year.

Overall, Flutter Entertainment’s latest trading update reflects its robust performance in the fourth quarter of 2023, fueled by strong revenue growth and an increasing number of average monthly players. With optimistic outlooks for the future, the company is poised to continue its growth trajectory in the betting and gaming industry.