DUBLIN (Reuters) – Online betting giant Flutter expects its core profit to jump by around 30% this year thanks to a four-fold increase at its fast-growing and market leading U.S. brand Fanduel, the world’s largest online betting company said on Tuesday.
Flutter expects U.S. core profit of $635 million to $785 million versus last year’s $167 million, which represented its first full year of profitability in the United States where a ban on sports betting was lifted in 2018.
It expects core profit of $1.63 billion to $1.83 billion in its others markets, which include the Paddy Power, Betfair and Sportsbet brands in the UK and Australia. That compares to $1.71 billion in 2023, which Flutter said was in line with its guidance.
(Reporting by Padraic Halpin; editing by Jason Neely)
Comments