Flutter Entertainment plc has released its Q3 2025 trading update, reporting a 17 percent year-over-year increase in group revenue to US$3.79 billion and a nine percent rise in average monthly players to 14.1 million people.
The iGaming and sports betting operator also confirmed the upcoming launch of FanDuel Predicts, a new prediction market product set to go live in December.
The company reported adjusted EBITDA of US$478 million for the quarter, up six percent from the prior year, with an adjusted EBITDA margin of 12.6 percent.
Nominal net loss widened to US$789 million, compared to US$114 million in Q3 2024, primarily due to a US$556 million non-cash impairment related to regulatory changes in India and a US$205 million payment to Boyd Gaming to revise US market access terms.
In the U.S. Flutter’s revenue increased by nine percent, supported by 44 percent growth in iGaming.
Market Competition
Sportsbook performance, however, was impacted by customer-friendly results and increased market competition, resulting in a five percent decline in sportsbook revenue and a 12 percent drop in adjusted EBITDA to US$51 million.
International revenue rose 21 percent year-over-year, benefiting from recent acquisitions including Snai and Betnacional.
Organic iGaming revenue, meantime, increased by 10 percent, while sportsbook revenue declined six percent following the strong European Football Championships in the previous year and bookmaker-favourable outcomes.
Group adjusted earnings-per-share rose 29 percent to US$1.64. Free cash flow decreased to US$25 million from US$112 million, and net cash from operating activities fell 28 percent to US$209 million, reflecting one-off payments.
Flutter updated its full-year 2025 guidance to account for recent market developments and investments.
Group revenue is now expected to reach US$16.69 billion, with adjusted EBITDA forecast at US$2.92 billion at the midpoint, representing respective annual growth of 19 percent and 24 percent.
FanDuel Predicts
The launch of FanDuel Predicts will expand Flutter’s product ecosystem in the U.S., said the Irish-American company, offering prediction market functionality in jurisdictions without regulated sports betting.
The initiative leverages FanDuel’s established brand presence and CME Group’s exchange infrastructure as part of Flutter’s broader strategy to diversify its North American iGaming operations.
Commented Flutter CEO Peter Jackson: “[We] delivered a solid third quarter, with continued momentum in both our US and International businesses.
“We are the clear number one operator in the US, and we will continue to build on that position to drive future profitability.
“Our strategic investments, including the launch of FanDuel Predicts and recent international acquisitions, position us exceptionally well to capture new opportunities and deliver sustainable, profitable growth.
“Our diversified portfolio and disciplined approach give me great confidence in our ability to lead the industry and increase long-term value for shareholders.”
