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FanDuel and Sportsbet drive Flutter Q3 revenue growth


Flutter Entertainment saw revenues increase 10% to £533m ($685.7m) for the third quarter of 2019, as FanDuel and Sportsbet’s successes in the US and Australia respectively were offset a retail decline driven by fixed odds betting terminal (FOBT) regulation.

Sports betting made up the majority of the Paddy Power Betfair owner’s overall revenue, with £417m, up 11% year-on-year. Gaming revenue rose 8% to make up the remaining £116m of revenue.

The operator said that its February acquisition of Georgian online sports and betting brand Adjarabet added four percentage points to its growth in the quarter.

The online sector — which is made up of the Paddy Power, Betfair and Adjarabet online sports betting and gaming brands, but not the FanDuel or Sportsbet online operations — was the largest revenue generator for Flutter, bringing in £247m, down 1% year-on-year.

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