Flutter Projects $21 Billion Revenue by 2027 at New York Investor Day

Significant Growth in the US Market

Flutter’s executives highlighted the “Flutter Edge,” a strategic framework composed of product innovation, technological advancement, expertise, and scale. This approach has propelled the company to leading positions in major markets such as the United States, United Kingdom, Italy, and Australia. They emphasized how this combination of strengths has been central to their success, particularly in dominating odds pricing and parlay products.

FanDuel CEO Amy Howe reported substantial growth in the U.S., with FanDuel rising to become the largest igaming brand by gross gaming revenue. Holding a 38% combined market share in sports betting and igaming, the company has surpassed previous targets.

Howe projected U.S. revenue to reach $9.7 billion by 2027, with adjusted EBITDA of $2.4 billion. The inclusion of the Canadian market is expected to expand the total addressable market in North America to $70 billion by 2030.

International CEO Dan Taylor outlined numerous growth possibilities worldwide. Flutter’s strategy involves investing in “local heroes,” brands that resonate within specific markets, and enhancing them with the company’s resources and technology.

Taylor identified Latin America, India, Turkey, North Africa, and Central and Eastern Europe as key regions for expansion. Recent acquisitions like Adjarabet, Sisal, and Tombola Arcade have demonstrated successful integration and growth, with revenue and adjusted EBITDA increasing significantly post-acquisition.

Financial Outlook and Projections

Group CFO Rob Coldrake provided an optimistic financial overview, projecting group revenue to reach $21 billion by the end of 2027 and free cash flow of $2.5 billion. The company has approved up to $5 billion in share buybacks over the next three to four years.

Coldrake highlighted that Flutter’s projected revenue compound annual growth rate (CAGR) is on par with notable U.S. companies, while its adjusted EBITDA CAGR outpaces them significantly. The company aims to achieve adjusted EBITDA of $5.2 billion in 2027 while maintaining a leverage ratio of 2 to 2.5 times.

During the Q&A session, CEO Peter Jackson addressed potential obstacles to achieving Flutter’s goals. He emphasized that complacency is the biggest threat, stating, “We have to be really careful not to let complacency get in the way.”

Amy Howe discussed the importance of lobbying and education in unlocking new opportunities in states like California, Texas, and Florida. She stressed that successful efforts would involve compelling messaging about economic impacts, community benefits, and responsible gaming, as well as collaboration with state tribes.