Customer numbers and revenues rise at sports betting giant
Flutter Entertainment, which owns Leeds-based Sky Betting and Gaming, says its revenues rose 19 per cent to $14bn/£11bn (2023: $11.8bn/£9.2bn) in its full year 2024 results.
Over the same period, Flutter also reported a 13 per cent rise in annual monthly players (AMPs) from 12.3 million to 13.9 million.
The business explains its robust performance was supported by its expansion in the US and other international markets, enhanced product offerings, and a strengthened balance sheet, positioning it well for continued growth in 2025.
Peter Jackson, CEO, said: “I am proud of the progress we made during 2024 as we delivered against our strategic priorities and enhanced our leadership positions.
“Outside of the US, our commitment to first-to-market product innovation led to market share gains in key markets including the UK and Italy, while in Australia, we saw encouraging trends in our player base.
“Thanks to our scale and cash generation, we are an ‘And’ business, with powerful optionality when deploying capital.
“This is clearly demonstrated by our commitment to long-term shareholder returns through our share repurchase program, and evident in our expansion into fast-growing markets with the announcement of our acquisitions of NSX in Brazil and Snai in Italy.”
Flutter Entertainment’s total debt has been reduced by $320m/£250m to $6.7bn/£5.2bn as of 31 December 2024, down from $7bn/£5.5bn at 31 December 2023.
A share repurchase program began in late 2024 with up to $5bn/£3.9bn expected to be returned to shareholders over the coming years.
The first tranche of the program started in November 2024 with 444,746 shares repurchased in 2024 for $121m/£94.4m.
In 2025, the business says it expects to return approximately $1bn/£780m to shareholders via the program.
