Flutter Entertainment PLC
flutter.comWhat Do They Do?
Offers sports betting and online games to players across international markets, and sports betting and online casino games to players in the United States.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
International players bet on sports and online games; Flutter keeps the net after payouts, determined when the event or game ends. The U.S. segment also earns from fantasy contests, with revenue set when each contest or tournament round ends.
10-K for FY2025, filed Feb 26, 2026Our International segment includes our operations in approximately 100 global markets and offers sports betting, casino, poker and lottery.…View ↗
For a single wager, revenue represents the net win or loss from a sporting event, net of new player incentives and player retention…View ↗
Revenue is recognized when the performance obligation is satisfied which corresponds to the occurrence of the sporting event to which the…View ↗
The Group has an obligation to honor the outcome of the game and to pay out an amount equal to the stated odds if the player wins the game.…View ↗
Our U.S. segment offers sports betting, casino, DFS, horse racing wagering and prediction markets products to players across various states…View ↗
The Group’s Daily Fantasy Sports is a platform offering fantasy sports contests and fantasy sports tournaments which enables players to use…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by reportable segment ↗
$16.4B
-
10-K for FY2025, filed Feb 26, 2026
$16.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
U.S.
Usage-based
10-K for FY2025, filed Feb 26, 2026 |
43%
FY2022: 33%
|
U.S., FY2025
$7B Sources
|
Usage-based |
|
International
Usage-based
10-K for FY2025, filed Feb 26, 2026 |
57%
FY2022: 23%
|
International, FY2025
$9.4B Sources
|
Usage-based |
Who Are Their Customers?
Players use the company’s apps and websites or visit betting shops; lottery tickets are also sold through local shops and authorized online resellers.
10-K for FY2025, filed Feb 26, 2026
Do Revenues Turn Into Profits?
Not on paper. It lost $407M in FY2025, but brought in more cash than it spent: $1.1B of free cash flow.
10-K for FY2025, filed Feb 26, 2026
$36MView ↗
10-K for FY2025, filed Feb 26, 2026
−$407MView ↗
10-K for FY2025, filed Feb 26, 2026
$1.1BView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$296MView ↗
- ▼ Now a loss
- vs $37M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Cuts full-year revenue and adjusted EBITDA guidance
Revenue guidance was reduced by $395m to a $17.91bn midpoint, and adjusted EBITDA guidance by $210m to a $2.655bn midpoint.
Sources
8-K, filed Aug 5, 2026
This results in a reduction to our full year Group revenue guidance of $395m to $17.91bn at the midpoint, and a reduction to our adjusted…View ↗
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Aug 5, 2026
Appoints Dan Taylor as CEO; Peter Jackson to step down
Taylor is due to take over on October 1, 2026; Jackson will leave the CEO role on September 30, 2026.
Sources
8-K, filed Aug 5, 2026
On August 5, 2026, the Board of Directors (the “Board”) of Flutter Entertainment plc (“Flutter” or the “Company”) announced the appointment…View ↗
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Aug 3, 2026
Completes London Stock Exchange delisting
Flutter’s shares are now listed only on the New York Stock Exchange.
Sources
8-K, filed Aug 3, 2026
Further to the announcement made on June 12, 2026, Flutter Entertainment plc (“Flutter” or the “Company”) (NYSE: FLUT) today announces…View ↗
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