Subsequent to the publication of Flutter’s Q3 financial results, industry expert Lara Martinez provided her perspective on the firm’s upcoming trajectory.
Flutter declared £1.89 billion (equivalent to $2.18 billion) in income for the third quarter of 2022, signifying a 31% surge year-on-year. Martinez, an analyst at Third Bridge, remarked on various significant facets of Flutter’s achievements, encompassing its US approach, market dominance, and the possible ramifications of the UK’s gambling policy review.
“Traditionally,” Martinez observed, “economic downturns haven’t substantially affected consumer expenditure on wagering and sports wagering.” Nevertheless, she advised that “an extended or severe recession could unavoidably strain disposable income.”
Martinez contends that Flutter’s prosperous tactic in the US market is poised to persist but highlights a “conspicuous void in their product range concerning casinos.” She perceives sustaining market dominance as a crucial hurdle for Flutter going forward. “Our specialists foresee a more segmented US market in the times ahead,” she stated, “with the possibility for rivals like BetMGM or others to unveil comparably robust sports betting offerings.”
Regarding the UK’s gambling policy review, Martinez believes that “Flutter is likely to experience a lesser effect due to their emphasis on casual players as opposed to high-stakes gamblers.”
Flutter’s Q3 report emphasized the expansion of its US operations, which witnessed an 82% surge, attaining £598 million. The incorporation of Sisal also factored into the company’s robust performance. Sports income constituted a substantial portion of overall income at £1.14 billion, while gaming income represented the remaining £748 million.
Flutter Entertainment’s Chief Executive, Peter Jackson, expressed great satisfaction with the company’s Q3 performance. “Flutter experienced an exceptional quarter,” he remarked, “with both revenue and active users surging by 11% compared to the same period last year.”
He further emphasized their triumphs in the American market, stating, “The momentum we’ve witnessed in the US since the NFL season commenced in September has been remarkable, now consistently exceeding a million users on any given game day.” Jackson also cited their increasingly sought-after multi-betting choices and the NBA season’s launch as significant factors driving customer interaction.
