Sports betting giants Flutter upgrade US outlook with ‘no sign of slowdown’

Betting giants Flutter cashed in with a 30 per cent increase in revenue driven by increased gaming and sports gambling.

The US company upgraded its revenue guidance to between $2.95bn-3.2bn (£2.56bn-£2.78bn), up from $2.85bn-$3.1bn (£2.47-£2.78bn), as it announced pro forma growth of 11 per cent in the third quarter .

Flutter’s US division coughed up $700m in revenue this year, up 82 per cent, and boosted by the acquisition of Sisal in August. 

Across the pond, the company kept its earnings in line with previous guidance at between £1.29bn-£1.39bn, moderated by “continued Irish retail weakness and UK fixture cancellations”.

It added there was “no discernible sign of slowdown” due to the cost of living crisis, with average monthly players going up in the third quarter by 23 per cent from last year. 

“We are really pleased with our performance in our US division since the start of the NFL in September where we are now averaging over 1m players on a regular NFL Sunday”, said CEO Peter Jackson.

With an “increase in customer retention rates” he said the “ongoing momentum in our US division has led to an upgrade to our outlook for the year, underpinning our confidence that we will be profitable for 2023.”