Flutter Entertainment has released its financial update for the second quarter of 2025, reporting year-on-year growth in both revenue and adjusted EBITDA, while also raising full-year guidance for the group.
The Irish-origin, now New York-headquartered global sports betting and iGaming operator reported Q2 revenue of US$4.19 billion (£3.11bn), a 16 percent increase compared to the same period in 2024.
Average monthly players rose 11 percent to 15.98 million, and adjusted EBITDA climbed 25 percent to $919 million (£683.52m).
The company attributed the growth to continued momentum across its U.S. operations and strong iGaming performance in international markets.
Despite topline growth, net income for the quarter declined by 88 percent, year-on-year, to $37 million (£27.53m), driven primarily, reported the company, by “non-cash impacts”.
Adjusted earnings per share–supported by the underlying EBITDA performance–nevertheless rose by 45 percent to US$2.95 (£2.19).
Top Rankin’
In the U.S., Flutter’s FanDuel brand continued to lead in both sportsbook and iGaming segments.
U.S. revenue rose 17 percent, with sportsbook up 11 percent and iGaming up 42 percent. Adjusted EBITDA in the U.S. topped US$400 million (£297.48m), helped by favourable sports results and improved operating leverage.
International operations–led by their top Paddy Power, Betfair, PokerStars and Sisal brands–delivered 15 percent revenue growth and a 13 percent increase in adjusted EBITDA.
Flutter cited strong iGaming growth in the UK and Ireland, Southern Europe, Africa and Asia Pacific, supported by the recent acquisitions of Snai in Italy and NSX in Brazil.
Following the Q2 results, Flutter has now increased its FY25 outlook.
Achievements
Group revenue is expected to reach $17.26 billion (£12.84bn), with a forecast of US$3.295 billion (£2.45bn) adjusted EBITDA, representing year-on-year growth of 23 percent and 40 percent, respectively.
“I am pleased with the excellent underlying performance we delivered in the second quarter alongside the good progress made on a number of key strategic initiatives,” affirmed Flutter CEO Peter Jackson.
“We continue to build [scaleable] positions in the most attractive markets through strong organic growth and value-creating M&A.
“Since Q1, Flutter has gained additional US index inclusion and accelerated ownership of FanDuel to 100 percent.
“Such varied achievements in one quarter are a great reflection of our teams’ focus and ability to execute effectively, leaving us well positioned for the second half of the year.”
