Core Insights - Flutter Entertainment reported a strong financial performance for Q1 2025, with significant year-over-year growth in revenue and net income, driven by the expansion of its US business and strategic acquisitions [1][4][5] Financial Performance - Average monthly players (AMPs) increased by 8% to 14,880, compared to 13,722 in Q1 2024 [1] - Revenue for Q1 2025 reached $3,665 million, an 8% increase from $3,397 million in Q1 2024 [1] - Net income surged to $335 million, a 289% increase from a net loss of $177 million in Q1 2024 [1][8] - Adjusted EBITDA rose by 20% to $616 million, with an adjusted EBITDA margin of 16.8%, up from 15.1% [1][4] - Earnings per share improved to $1.57, compared to a loss of $1.10 in Q1 2024, marking a 243% increase [1][9] US Market Performance - US revenue grew by 18% to $1,666 million, with sportsbook revenue up 15% and iGaming revenue up 32% [4][11] - The US market share for sports betting and iGaming stood at 43% and 27%, respectively, with a 48% share of net gaming revenue [11] - Adjusted EBITDA for the US segment increased significantly to $161 million from $26 million in Q1 2024, reflecting strong operating leverage [14] International Market Performance - International revenue saw a modest increase of 1% year-over-year, with adjusted EBITDA decreasing by 1% [16] - Key growth regions included Southern Europe and Africa, which offset declines in the Asia Pacific sportsbook segment [16][18] Strategic Acquisitions and Guidance - The company updated its 2025 guidance, expecting total revenue of $17.08 billion and adjusted EBITDA of $3.18 billion, representing year-over-year growth of 22% and 35%, respectively [4][24] - The acquisitions of Snai and NSX are anticipated to contribute an additional $1.07 billion in revenue and $120 million in adjusted EBITDA for 2025 [3][22] Capital Structure and Shareholder Returns - Total debt increased to $6,824 million, with a leverage ratio of 2.2x, consistent with the previous quarter [20] - The share repurchase program continued, with $230 million spent on repurchasing 891 thousand shares in Q1 2025 [21]

Group 1 - The core viewpoint is that the NCAA's college basketball tournament results negatively impacted the first-quarter performance of FanDuel's parent company, Flutter [1] - Flutter reported first-quarter adjusted earnings per share of $1.59, which fell short of Wall Street's consensus estimate of $1.89 per share [1] - The company's revenue for the first quarter was $3.67 billion, missing the LSEG estimates of $3.84 billion [1] Group 2 - The company has lowered its full-year U.S. guidance due to unfavorable sports results, but has raised its outlook for global performance based on currency adjustments and international acquisitions [2] - The CEO anticipates that customers will continue to spend on online sports and casino games despite broader global economic concerns affecting consumer sentiment [2]

Player Metrics - Total Group Average Monthly Players (AMPs) increased to 14,880 in Q1 2025 from 13,722 in Q1 2024, representing a growth of 8.5%[149] - Sportsbook AMPs rose to 8,798 in Q1 2025, up from 8,340 in Q1 2024, indicating a year-over-year increase of 5.5%[149] - iGaming AMPs grew to 7,260 in Q1 2025, compared to 6,535 in Q1 2024, reflecting a growth of 11.1%[149] - Total International AMPs rose to 10,568, an increase of 7.5% from 9,825 in the previous year[171] - Southern Europe and Africa revenues grew by 14%, with AMPs reaching 1.8 million, a growth of 25%[182] Revenue and Income - Revenue increased by 8% to $3,665 million for the three months ended March 31, 2025, compared to $3,397 million for the same period in 2024[152] - U.S. segment revenue grew by 18% to $1,666 million, driven by a 15% increase in Sportsbook revenue and a 32% increase in iGaming revenue[166][167] - Net income increased by $512 million to $335 million for the three months ended March 31, 2025, with a net income margin of 9.1% compared to a net loss margin of 5.2% in the prior year[161] - Adjusted EBITDA rose by 20% to $616 million, with an Adjusted EBITDA margin of 16.8%, up from 15.1% in the previous year[162] - International segment revenue slightly increased by 1% to $1,999 million, with iGaming revenue up by 4%[172] - Total International segment revenue increased by 1% to $1,999 million for the three months ended March 31, 2025, compared to $1,987 million for the same period in 2024[176] Expenses and Profitability - Technology, research and development expenses increased by 13% to $215 million, reflecting continued investment in product development[154] - Sales and marketing expenses decreased by 5% to $840 million, with a revenue percentage drop from 26% to 23%[155] - Operating profit increased by $99 million to $223 million, attributed to revenue growth and cost management[157] - Other income improved by $390 million to $216 million, primarily due to a significant change in the fair value of the Fox Option liability[158] - Adjusted EBITDA for International was $518 million for the three months ended March 31, 2025, a 1% decrease from $524 million for the same period in 2024[186] Market Developments - The acquisition of Snaitech S.p.A was completed for approximately €2.3 billion ($2.6 billion), expected to enhance the International segment starting Q2 2025[131] - Flutter acquired a 56% interest in NSX Group for approximately $346 million, with completion expected in May 2025, aimed at expanding in the Brazilian market[132] - The U.S. segment is identified as the largest growth opportunity, with FanDuel active in 22 states as of March 31, 2025[136] - The regulatory environment in Italy is evolving, with new online gaming licenses expected to be issued by May 30, 2025, following a legislative decree approved in August 2023[143] - Brazil launched its regulated market for online sports betting and casino on January 1, 2025, with Flutter receiving a full license on February 7, 2025[147] Cash Flow and Financial Position - As of March 31, 2025, the company had $1,537 million in cash and cash equivalents available for corporate use[195] - Net cash provided by operating activities decreased by $149 million, or 44%, to $188 million for the three months ended March 31, 2025, compared to $337 million for the same period in 2024[204] - Net cash used in investing activities decreased by $159 million, or 61%, to $100 million for the three months ended March 31, 2025, compared to $259 million for the same period in 2024[206] - Net cash used in financing activities increased by $90 million, or 50%, to $271 million for the three months ended March 31, 2025, compared to $181 million for the same period in 2024[207] - Cash outflow in player deposit liabilities was $220 million due to timing of sports events for the three months ended March 31, 2025[205] - Cash outflow of $210 million in other liabilities was related to retention bonuses from the Singular acquisition and increased bonus payouts for the three months ended March 31, 2025[205] Regulatory and Risk Factors - The ongoing review of the UK Gambling Act may lead to more stringent regulations, potentially impacting Flutter's operations in its second-largest market[142] - The fair value of the Fox Option liability ranges from $52 million to $2,098 million as of March 31, 2025, depending on various assumptions[212] - The Group determined there was no impairment of goodwill for any reporting units following the change in reporting structure within the International segment[215] - There were no significant changes in exposure to market risk during the three months ended March 31, 2025[218] - The decrease in capital expenditures contributed to the reduction in net cash used in investing activities for the three months ended March 31, 2025[206] - The increase in cash outflow for financing activities was primarily driven by the repurchase of ordinary shares in the three months ended March 31, 2025[207] Revenue Breakdown - Sportsbook revenue decreased by 2% to $880 million for the three months ended March 31, 2025, with amounts staked down 6% to $6,912 million[177] - iGaming revenue increased by 4% to $1,050 million for the three months ended March 31, 2025, driven by a 9% growth in AMPs[179] - UKI revenue grew 2% year-over-year, with iGaming growing 9% driven by the rollout of premium games[181] - APAC revenue decreased by 13%, primarily due to an 18% decline in sportsbook revenues in Australia[183] - Central and Eastern Europe revenue grew by 15%, driven by strong performances in Georgia and Serbia[184] - Brazil revenue was down 44% due to customer re-registration friction in the newly regulated market[185]

Flutter Entertainment Reports First Quarter 2025 Financial Results May 7, 2025 (New York): Flutter Entertainment (NYSE:FLUT; LSE:FLTR), the world's leading online sports betting and iGaming operator, announces Q1 results, and updates 2025 guidance. A letter to shareholders has also been published on the Group's website at www.flutter.com/investors Key financial highlights: | | | Three months ended March 31, | | | --- | --- | --- | --- | | In $ millions except where stated otherwise | 2025 | 2024 | YOY | | A ...

Core Insights - FanDuel Sports Network has seen its paid subscribers double to nearly 650,000 in just eight weeks, with expectations to reach one million by year-end [2] - The company emerged from bankruptcy protection, significantly reducing its debt and restructuring its agreements with teams and leagues [3] Subscriber Growth - The streaming platform averages 250,000 unique daily users and about one million unique monthly users since the start of the 2025 MLB season, with average watch time per game increasing by 9% year-over-year to 92.5 minutes [4] - Partnerships with Amazon Prime Video and SB Nation, along with promotional offers from team partners, have contributed to subscriber growth [5][6][7] Industry Context - Regional sports networks are facing challenges due to the decline in pay-TV subscribers, necessitating adaptation to new streaming models [8][9] - The traditional lucrative model for regional sports networks is under pressure as pay-TV distributors push back on contracts [9] Pricing Strategy - FanDuel Sports Network's subscription starts at $19.99 per month, with pricing varying by region, and the company is exploring lower price points to attract more subscribers [11][12]

Core Viewpoint - Flutter Entertainment has completed the acquisition of Snaitech S.p.A. for an enterprise value of €2.3 billion, enhancing its position in the Italian market and aligning with its strategy for international growth [1][2]. Group 1: Acquisition Details - The acquisition of Snai is expected to increase Flutter's online market share in Italy to approximately 30% [5]. - Snai's strong omnichannel presence is anticipated to create significant growth opportunities by providing access to Flutter's market-leading products and capabilities [2][5]. - The transaction is financed through a €2.5 billion senior secured first lien term loan, with plans to use the facility for acquisition-related expenses and general corporate purposes [4][6]. Group 2: Strategic Importance - The acquisition aligns with Flutter's strategy to invest in leadership positions in attractive international markets, particularly in Southern Europe and Africa [2]. - Snai's established brand and customer base are expected to enhance Flutter's "local hero" brand portfolio, diversifying customer acquisition opportunities in Italy [5]. - The integration of Snai is projected to deliver target operating cost synergies of at least €70 million within three years, alongside additional revenue synergies through enhanced pricing and risk management capabilities [5]. Group 3: Future Outlook - Flutter plans to provide further updates, including financial guidance, in its first quarter results on May 7, 2025 [3].

Core Viewpoint - Flutter Entertainment is set to release its first quarter 2025 financial results on May 7, 2025, after market close, highlighting its ongoing commitment to transparency and investor engagement [1]. Group 1: Financial Results Announcement - Flutter will announce its Q1 2025 financial results on May 7, 2025, at 4:05 p.m. EDT [1]. - The earnings release and supplementary materials will be accessible through the "Investors" section of the Flutter website [1]. Group 2: Conference Call Details - A conference call will be held on May 7, 2025, at 4:30 p.m. EDT to discuss the financial results and answer questions [2]. - Access to the conference call will be available via webcast and telephone, with a replay provided approximately one hour after the call [2]. Group 3: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, with a strong presence in various global markets, including the US [3]. - The company aims to leverage its scale and innovative mindset to drive long-term growth while promoting sustainability through its Positive Impact Plan [3]. - Flutter operates a diverse portfolio of brands, including FanDuel, PokerStars, and Paddy Power, among others [4].

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Flutter Entertainment (FLUT) , which belongs to the Zacks Gaming industry.This online gambling company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 120.70%.For the most recent quarter, Flutter was expected to post earnings of $1 ...

As an official partner of Churchill Downs Inc., FanDuel will once again deliver unmatched access during Derby Week with premier betting options, live FanDuel TV broadcasts, and exclusive events  Churchill Downs®, Kentucky Derby®, Kentucky Oaks® and the Twin Spires® are registered trademarks of Churchill Downs Incorporated NEW YORK, April 23, 2025 /PRNewswire/ -- FanDuel, North America's premier online gaming company, is off to the races for the 151st "Run for the Roses" with the #1 sportsbook app where fans ...

Regulatory approval achieved for Snai acquisition, enhancing Flutter's position in Italy, Europe's largest regulated market NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment (NYSE: FLUT; LSE: FLTR) ("Flutter") the world's leading online sports betting and iGaming operator today announces that it has received all necessary antitrust, gaming and regulatory confirmations to acquire Snaitech S.p.A. ("Snai"), one of Italy's leading omni-channel operators. The acquisition of Snai fully aligns wit ...