Flutter Entertainment’s Revenue Up 25% to $11.7 Billion in 2023
Lina Almans
27 March 2024
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Flutter Entertainment, the global giant in sports betting and gambling, and the parent company of FanDuel, Paddy Power, and PokerStars, has announced a significant revenue increase in its 2023 financial report.
The company’s revenue jumped by 24.6%, reaching $11.7 billion, up from $9.4 billion in 2022. The growth was particularly strong in the U.S. market, where revenue soared by 40.7%. FanDuel, a Flutter brand, now commands a 43% market share in U.S. online sports betting, outpacing its nearest rival, DraftKings, which holds 33%.
Despite the revenue surge, Flutter Entertainment reported a net loss of $1.2 billion for 2023, a substantial increase from a loss of $370 million the previous year.
Looking at the early months of the current year, from January 1 to March 17, the company’s revenue continued to rise, showing a 23.4% increase over the same period last year. Flutter Entertainment projects that by the end of 2024, its revenue will have grown by another 17.5%.
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