Flutter Posts Strong Q4 Results, Plans to Retain Momentum in 2024

The globally recognized betting and gaming operator, Flutter Entertainment, released its latest trading update, uncovering details regarding the company’s performance for the fourth quarter of 2023. The new unaudited report emerged Thursday and highlights strong growth in terms of revenue and the number of average monthly players (AMPs) for the latest trading period.

Flutter posted a total revenue of £2.67 billion ($3.38 billion) for the fourth quarter of 2023, a result that marked an increase of 11% when compared to the figure posted for the same period in 2022. Notably, in Q4 2023, the company’s AMPs increased by 12% year-over-year to 13.6 million.

A breakdown of the £2.67 billion ($3.38 billion) in revenue reveals strong growth in terms of sports betting as well as gaming revenue. In total, Flutter’s sports revenue in Q4 2023 hit £1.66 billion ($2.1 billion), up by 8% when compared to the £1.53 billion ($1.94 billion) result from the corresponding period the previous year.

Besides the Q4 results, the company’s new report revealed its fiscal year results. For the fiscal year ended December 31, 2023, Flutter reported a 20% year-over-year increase in AMPs. Complementing this result, the company’s revenue for the period hit £9.5 billion ($12 billion). When compared to the corresponding period in 2022, the revenue soared by 24%.

The Company Traded Well during the Fourth Quarter

Peter Jackson, Flutter’s chief executive, explained that the company “traded well in Q4 underpinned by our leading local brands supported by global Flutter Edge advantages.” He outlined the strong leadership position FanDuel holds within the betting vertical across the US, adding that the brand also performs well within the iGaming vertical. “While sports results were very customer friendly, particularly on the NFL in November, the underlying momentum in the business remains very strong heading into 2024,” said Jackson.

“I am looking forward to 2024 and further building on the momentum within the Group to continue delivering growth.“

Peter Jackson, chief executive at Flutter Entertainment

According to the chief executive, Flutter performed in line with the set expectations within markets outside the US. He highlighted the strong momentum the company gained within the gambling sector across the United Kingdom and Ireland.

Jackson spoke about Flutter’s upcoming listing with the New York Stock Exchange, saying that it is exciting to see the listing “just days away.” Praising the importance of the listing, he said that the company is looking forward to a successful year thanks to its accumulated positive momentum.