Flutter Entertainment has reported record financial results for Q4 2025, with group revenue of £3.24 billion — a 19% year-on-year increase — and adjusted EBITDA of £612 million, ahead of analyst consensus forecasts.
The standout headline was the performance of FanDuel in the United States, which delivered its second consecutive quarter of operating profit with EBITDA of $94 million on revenue of $1.23 billion. FanDuel's market share in US online sports betting remained at approximately 43% by gross gaming revenue, with the brand also maintaining its position as the leading iCasino operator in the four states where it operates.
Flutter CEO Peter Jackson described the results as "a validation of our long-term strategy" and reiterated the group's target of achieving US EBITDA of $1 billion by end of 2027.
In the UK and Ireland, Flutter's Paddy Power and Sky Bet brands delivered solid performance despite a competitive market and ongoing regulatory uncertainty around White Paper implementation. UK and Ireland revenue grew 8% year-on-year to £820 million.
The international division — covering Europe ex-UK, Australia, and emerging markets — delivered revenue growth of 14%, led by strong performances in Italy, Romania, and Brazil, where Flutter has been building out its PokerStars brand following the country's regulation of online gambling.
Flutter also announced a £500 million share buyback programme to commence in Q1 2026, signalling confidence in its cash generation capacity despite continued investment in the US market.
Source: Flutter Entertainment
James Whitfield
Editor-in-Chief
Member of the iGaming Pulse editorial team. Covering industry news, analysis, and B2B developments across the global iGaming sector.
