Flutter's revenue growth in Q2 2024 was primarily driven by the continued strong performance of its U.S. business and robust iGaming momentum in the UKI, as well as the contribution from the acquisition of MaxBet1:
- Growth of U.S. Business: The company's U.S. business produced another excellent quarter, with a 32% increase in revenue. This growth was driven by strong performance from the FanDuel brand, which saw a 15% increase in average monthly players (AMPs) and a 49% rise in revenue. The successful launch of FanDuel in North Carolina and new player acquisition in pre-2022 states contributed to this growth2.
- iGaming Momentum in UKI: The iGaming segment in the UK saw strong momentum, with Flutter reporting a 15% increase in revenue. This was supported by improved cross-sell rates and product enhancements that drove growth in player numbers and revenue2.
- Contribution from MaxBet: The acquisition of MaxBet in January 2024 added significant revenue to Flutter's growth. MaxBet contributed $47 million or two percentage points to the group's revenue growth in Q1 20241.
- Overall Revenue Growth: These factors, among others, led to a overall revenue growth of $3.397 billion in Q1 2024, an increase of 16% compared to the same period in the previous year. This growth was supported by strong operational performance across key markets and the successful integration of acquired businesses2.
In summary, Flutter's revenue growth in Q2 2024 was driven by the robust performance of its U.S. business, particularly from the FanDuel brand, strong iGaming momentum in the UK, and the contribution from the MaxBet acquisition.
3/30/2025 08:27am
