Flutter sees five-fold jump in revenue at U.S. Fanduel unit long term

Published on November 16, 2022 12:03 PM PST

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DUBLIN (Reuters) - Flutter sees revenue at its rapidly growing and market leading U.S. Fanduel business jumping by 4.5 to 5-times over the long term, the world's largest online betting firm said on Wednesday.

Flutter, which upgraded its full-year revenue guidance for Fanduel to between $2.95 billion to $3.2 billion last week, told investors that it expects the overall value of the U.S. sports betting and online gaming market to rise to $40.5 billion by 2030 from $9 billion currently.

"We do believe that we'll be on that high end of the range - five times," Fanduel Chief Executive Amy Howe said at an investor day, adding that Fanduel was "incredibly confident" of turning a profit for the first time in 2023.

(Reporting by Padraic Halpin; editing by Diane Craft)

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