Flutter Entertainment has reported a robust start to the 2026 fiscal year, with Q1 revenue reaching $4.3 billion, a 17% year-on-year increase.
The growth reflects the group’s continued dominance in the US market and strategic acquisitions in Brazil and Italy. While adjusted EBITDA rose 2% to $631 million, net income saw a 38% decline to $209 million, impacted by market exits and shifting operational costs.
FanDuel Maintains US Dominance
Flutter’s US division generated $1.76 billion in revenue, bolstered by a 19% surge in iGaming. FanDuel continues to lead the North American landscape, commanding a 39% share of the sportsbook market and 27% of the iGaming market by gross gaming revenue.
To maintain this lead ahead of the 2026 FIFA World Cup, Flutter is rolling out an aggressive improvement plan. This includes a new loyalty program, expanded promotional mechanics, and the “One App” model for FanDuel Predicts, which brings prediction market wagers to non-sportsbook states.
International Growth and Leadership Shake-up
International revenue jumped 27% to $2.54 billion, largely driven by the successful integration of Snai (Italy) and Betnacional (Brazil). However, average monthly players dipped 3% to 14.4 million following the closure of Indian operations.
The report coincided with a significant leadership transition. Dan Taylor moves from CEO of International to President of Flutter Entertainment, while Christian Genetski takes the helm at FanDuel following the departure of Amy Howe.
Peter Jackson, Group CEO, commented on the performance and the transition:
“Flutter’s Q1 performance was encouraging… This reflected positive signs from our US sportsbook improvement plan, where performance was ahead of our expectations in March. With significant growth potential ahead, we have decided this is the right moment for new leadership at FanDuel. I’m delighted that Christian will lead the business. He has a strong track record and deep market knowledge.”
Amy Howe added in her departure statement:
“It has been a privilege to lead FanDuel over the past five years. Together, we have established a clear leadership position in the market. With the business well positioned for what comes next, I believe this is the right moment to hand over to new leadership.”
Updated 2026 Guidance
Flutter has narrowed its full-year guidance, forecasting group revenue of approximately $18.3 billion and adjusted EBITDA of $2.87 billion at midpoint. This outlook accounts for the upcoming Arkansas launch and the consolidation of PokerStars North America reporting.
