Flutter Entertainment, a global gambling company, has reported a substantial 25% increase in group revenue for its 2023 financial year, reaching a total of £9.51bn (€11.08bn/$12.07bn). This growth was primarily driven by a significant 38% rise in revenue from operations in the US.

In its trading update for 2023, Flutter revealed growth across all sectors, except for its Australian business. The report also covered its performance in the fourth quarter, which followed a similar pattern of growth.

The standout performer for Flutter in 2023 was its US-facing brand, FanDuel, which saw a remarkable 38% year-on-year increase in revenue to £3.06bn. The US operations continued to be the primary revenue source for the group, drawing 37.9% of all revenue. On a constant currency basis, US sports revenue jumped 39%, while gaming revenue increased by 47%. Additionally, Flutter noted a 38% increase in average monthly players in the US, reaching more than 3.2 million.

In the UK and Ireland, Flutter also saw substantial double-digit growth, with revenue increasing by 15% to £2.46bn. This growth was reflected in both sports betting and gaming, with revenue increasing by 12% and 17% respectively on a constant currency basis.

On the international front, excluding the US, UK and Ireland, Flutter’s revenue jumped by 36% to £2.29bn. This growth was primarily driven by a 60% increase in sports betting revenue and a 29% increase in gaming revenue. The average monthly players across the international business also saw a significant 31% increase, reaching 4.1 million.

However, Flutter faced challenges in Australia, where revenue slipped by 8% to £1.17bn. Despite offering only sports betting in the country, Flutter saw a 3% decrease in revenue on a constant currency basis. Nevertheless, the average monthly players in Australia increased by 2%, reaching 1.1 million.

Overall, Flutter Entertainment’s 2023 financial year demonstrated significant growth in the US and international markets, while also facing challenges in Australia.

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