By TheNuts - Aug 08, 2025
The US and UK&I saw robust iGaming growth, which drove
Flutter's Q2 revenue. For the operator, Latin America—and especially Brazil—remains a major opportunity.
On Thursday, Flutter revealed its Q2 numbers, showing a 16% increase in group revenue to $4.19 billion. Impressive iGaming results in the US were a major factor in growth.
43 percent of Flutter's total revenue came from its US FanDuel business. FanDuel made $1.8 billion at the end of the quarter.
With $1.2 billion in sales,
sportsbook was still FanDuel's largest business; however, iGaming stood out with a 42% increase in US iGaming revenue to $507 million.
Peter Jackson, the CEO of Flutter, stated on the company's earnings call that the company's Q2 results showed "meaningful strategic progress" for the quarter.
"With the content-rich calendars for the NFL, NBA, and European soccer throughout the rest of the year, our performance in Q2 puts us in a strong position to deliver on our strategic objectives and execute well," he stated.
"Our impressive performance in the first half of 2025 highlights the strength of Flutter's fundamentals as we look to the rest of the year," Jackson explained. "When I think about where we stand going into the second half of 2025, I feel confident."
Flutter raised its full-year guidance by a little amount as a result of the findings. From its initial goal of $17.08 billion, it now anticipates sales to reach $17.26 billion in 2025.
In the second quarter, Flutter's global division generated $2.4 billion in revenue, a 15% increase. Additionally, the segment's adjusted EBITDA rose 13% to $591 million. This was driven by a 63% increase in revenue in Southern Europe (on a constant currency basis).
The business notes that the comparison quarter of 2024 was especially robust owing to Euro 2024, which represented for 6% of handling in Q2 2024. Sportsbook revenue growth in Flutter's international markets was 4%.
Italy was cited by Jackson as a particularly noteworthy market during that time, with a market share of 21.7% in Q2 and up to 30.2% for online sales in particular.
The segment grew by 52 percentage points as a result of the Snai purchase, which concluded in Q2.
Flutter's acquisitions of Snai and NSX in Brazil helped the company's global business increase by 11 percentage points during that time.
"A clear strategic rationale to increase our footprint in desirable, regulated markets while utilizing the Flutter Edge to drive operational and product improvements is the driving force behind both acquisitions," Jackson stated.
On a constant currency basis, revenue in the UK and Ireland fell 5% to $936 million. In Q2 2024, sportsbook revenue here was 17% (CC) lower than the Euros.
Igaming, on the other hand, increased by 10% (cc), although Flutter said that player restrictions brought about by the Gambling Act Review had an effect.
The completion of a platform update in UK&I will "probably stop the rot" and restart growth, according to Regulus.
Asia Pacific saw a 7% increase in revenue during the second quarter, while CEE saw a 5% (cc) increase.