Flutter Entertainment has announced the appointment of David Kenny as a non-executive director, who will assume the role after the conclusion of the Annual General Meeting on...
Flutter reports a 25% year-over-year increase in Q2, 2025
Flutter posts a 25% year-over-year increase in adjusted EBITDA to $919 million in Q2 2025, driven by an 11% rise in average monthly players to nearly 16 million.
The player increase, along with a 16% revenue uplift, brought the total revenue to $4.19 billion. However, net revenue dropped 88%, mainly because of one-off charges and higher taxes.
The US revenue rose 17% year-over-year to $1.8 billion, with sportsbook revenue up 11%, and the iGaming segment up 42%. The market produced adjusted EBITDA of $400 million, benefiting from sports betting results and strong operating force.
International operations had a revenue increase of 15% to $2.4 billion, and adjusted EBITDA up 13% to $591 million. iGaming revenue rose 27%, pushed by performance in the UK, Ireland, Southern Europe, Africa, and Asia Pacific. Sportsbook revenue is up 4%, though this is tempered by strong comparatives from the European Football Championships of 2024 and less favourable year-over-year sports results.
Q2 also marks several essential developments. Flutter acquired Snai, becoming the largest operator in Italy, closed the deal for NSX in Brazil, and got hold of the remaining 5% stake in FanDuel from Boyd Gaming, becoming a 100% owner.
Flutter also addressed emerging topics in the industry, such as prediction markets and rising state taxes.
Peter Jackson, CEO of Flutter Entertainment, said that they are exploring the prediction markets:
“With prediction markets, it’s clearly a fast-moving space. And for those of you on the call who are a bit less familiar with our International business, it’s worth remembering that we’ve got sort of two decades’ experience of operating the world’s largest betting exchange, the Betfair Exchange.
We offer this product in lots of markets around the world, and it shares some similar characteristics of the event contracts, which will obviously be helpful to us as we consider the landscape and any developments.
But as you say, we’re evaluating the various regulatory developments and assessing the potential opportunities this may present for FanDuel. Naturally, we’ve got a lot of important stakeholders that we need to consider, and so we’re watching this space very closely.”
Pressed on the risks of investing in prediction markets given the possibility of political change in the US, Jackson declined to guess, believing it’s too early to make assumptions.
On December 17, 2025, former Sky Betting and Gaming (SBG) CEO Steve Birch confirmed he would be stepping down from his position at Flutter Entertainment by the end of...
