Flutter Entertainment plc: Q2FY24 Financial Highlights 

Flutter Entertainment plc stands as one of the premier operators in the global gambling and sports betting industry. Since its inception on February 2, 2016, and headquartered in Dublin, Ireland, the company has rapidly expanded its reach through a diverse portfolio of brands and strategic acquisitions.

Flutter’s portfolio includes some of the most recognized names in the online sports betting and iGaming industries, such as FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, and Betfair. The company has also expanded into international markets through brands like Sisal, Tombola, MaxBet, Junglee Games, and Adjarabet, ensuring a broad customer base across regions.

In line with its strategy of expanding through acquisitions, Flutter Entertainment acquired BeyondPlay for 26 million USD. This move is part of its ongoing effort to stay ahead in the highly competitive iGaming space by integrating innovative technology and diversifying its offerings.

Public Trading and Market Performance

Listed on the London Stock Exchange (LSE) since 2016, Flutter Entertainment has recently expanded its presence to the U.S. market, listing its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol “FLUT” as of January 29, 2024.

For Q2FY24, the stock traded within a range of 155.98 USD to 212.95 USD on the LSE. It opened at 197.54 USD on April 2, 2024, and closed at 182.82 USD on June 28, 2024. Notably, Flutter has not paid dividends on its ordinary shares since May 2020.

Financial Performance Overview

Flutter’s quarterly revenues have shown a steady increase over the last 4 quarters:

• Q3FY23: 2,559 million USD
• Q4FY23: 3,312 million USD
• Q1FY24: 3,397 million USD
• Q2FY24: 3,611 million USD

This upward trajectory highlights the company’s strong market presence and operational efficiency across various regions.

Revenue Breakdown by Segment

For Q2FY24, the company reported total revenues of 3,611 million USD, with the following breakdown by segments:

• Sports Revenue: 2,096 million USD (58.04%)
• Gaming Revenue: 1,354 million USD (37.50%)
• Other Revenue: 161 million USD (4.46%)

Sports betting remains the company’s dominant revenue stream, followed closely by gaming operations.

Regional Performance

The company’s sales are well-distributed globally, though certain regions outperform others. In Q2FY24, the U.S. was the largest market for Flutter, contributing 42.29% of total revenue, equating to 1,527 million USD. The UK & Ireland came in second with 25.70% or 928 million USD, followed by International markets at 22.35% (807 million USD) and Australia at 9.66% (349 million USD).

Strong Balance Sheet

As of June 30, 2024, Flutter Entertainment reported total assets of 24,322 million USD and total liabilities of 12,838 million USD, resulting in a solid financial foundation. The company’s total equity stood at 10,052 million USD, reflecting a 3.91% increase from the previous quarter’s figure of 9,674 million USD.

Flutter Entertainment’s strong market position, diverse portfolio, and steady financial growth have solidified its status as a leader in the gambling and sports betting industry. With its focus on expanding into new markets and investing in acquisitions like BeyondPlay, the company is well-positioned to continue delivering value to its shareholders and customers alike.