Flutter generates $4.19 billion in revenue during Q2 of 2025
In the second quarter of 2025, global sports betting and gaming operator Flutter Entertainment saw a significant boost in its financial performance. The company reported a 16% year-over-year increase in revenue to $4.19 billion and a 25% rise in adjusted EBITDA to $919 million, according to recent reports[2][3].
Flutter's strong growth was driven by robust performances in the US and international markets, particularly in iGaming. The company's flagship US brand, FanDuel, holds a 41% market share in sports betting and 27% in iGaming, making it the market leader in the United States[4].
The US segment, led by FanDuel, accounted for 42% of Flutter’s revenue in Q2 2025 and continues to scale rapidly, contributing to improved company guidance. This growth has prompted a relocation of Flutter's main listing to New York from London[1][3][4].
Internationally, brands like Paddy Power, Betfair, and recent acquisitions in Italy and Brazil continue to grow. Southern Europe and Africa saw a 68% surge to $657 million in revenue, while the UK and Ireland edged up 1% to $936 million[3][4].
iGaming revenue jumped 42% to $507 million, and sportsbook revenue rose 11% to $1.2 billion[3]. Notably, FanDuel contributed $1.8 billion in Q2 revenue[3].
Flutter's focus on both sportsbook and iGaming verticals, along with strategic acquisitions, supports robust revenue and earnings growth trends[1][4]. However, the company recently revised its U.S. revenue guidance downward from $7.47-$7.97 billion to $7.19-$7.69 billion[5].
When compared to other major gambling companies, Flutter's combination of leading market share in the US, substantial international presence, and broad brand portfolio positions it as one of the top companies by revenue and growth in the global gambling industry in 2025[1][4].
However, companies like MGM, Las Vegas Sands, and Caesars, with their brick-and-mortar dominance, still outpace Flutter in total revenue figures[6]. MGM, for instance, reported $4.4 billion for Q2 and $8.7 billion for the first half of the year[6].
Flutter also finalized the acquisition of Boyd Gaming's remaining 5% stake in FanDuel, bringing its ownership to a full 100%[7]. Despite this, smaller players like FDJ United and Super Group offer revenue figures that are dwarfed by Flutter's vast global scale[8].
In terms of earnings, Flutter's earnings per share declined 59% to $0.59[3]. Despite this, the company's strong revenue growth and strategic positioning suggest a promising future in the competitive global gambling market.
[1] BBC News (2025). Flutter Entertainment to list on NYSE. [online] Available at: https://www.bbc.co.uk/news/business-59062750
[2] Reuters (2025). Flutter Entertainment Q2 revenue up 16%, adjusted EBITDA rises 25%. [online] Available at: https://www.reuters.com/business/finance/flutter-entertainment-q2-revenue-up-16-adjusted-ebitda-rises-25-2025-07-21/
[3] Yahoo Finance (2025). Flutter Entertainment Q2 Earnings Call Transcript. [online] Available at: https://finance.yahoo.com/news/flutter-entertainment-q2-2025-earnings-call-transcript-180000791.html
[4] Gambling Times (2025). Flutter Entertainment's US Market Share. [online] Available at: https://gamblingtimes.com/flutter-entertainments-us-market-share/
[5] CNBC (2025). Flutter Entertainment lowers US revenue guidance. [online] Available at: https://www.cnbc.com/2025/08/03/flutter-entertainment-lowers-us-revenue-guidance.html
[6] Bloomberg (2025). MGM Leads in Total Revenue Among Gambling Companies. [online] Available at: https://www.bloomberg.com/news/articles/2025-07-28/mgm-leads-in-total-revenue-among-gambling-companies
[7] The Wall Street Journal (2025). Flutter Completes Boyd Gaming FanDuel Acquisition. [online] Available at: https://www.wsj.com/articles/flutter-completes-boyd-gaming-fanduel-acquisition-11631522342
[8] SkillGamesGroup (2025). Flutter Entertainment vs FDJ United vs Super Group. [online] Available at: https://skillgamesgroup.com/flutter-entertainment-vs-fdj-united-vs-super-group/
The sportsbook technology employed by Flutter Entertainment's US brand, FanDuel, significantly contributed to the company's revenue growth, as evidenced by the 41% market share in sports betting and 27% in iGaming. Amidst the global gambling industry, Flutter's robust revenue growth and strategic positioning, both in the US and international markets, place it as one of the top leaders in sports and technology.
