Flutter Entertainment announced on January 7, 2025, a significant cut to its fourth-quarter 2024 U.S. profit forecast, attributing the revision to a period of very unfavorable U.S. sports results in November and December. This impact was primarily seen on NFL Parlay and Same Game Parlay outcomes.
The company stated that the 2024/2025 NFL season has been the most customer-friendly since the launch of online sports betting, with the highest rate of favorites winning in nearly 20 years. This transitory nature of results led to an estimated adverse gross gaming revenue (GGR) impact of $438 million for the period from November 12 to December 31.
As a result, Flutter's revised expectations for 2024 U.S. revenue are approximately $5.78 billion, down from the previous guidance midpoint of $6.05-$6.25 billion. The 2024 U.S. Adjusted EBITDA is now estimated at approximately $505 million, a reduction of $205 million from the previous midpoint of $670-$750 million, reflecting a Q4 sportsbook net revenue margin of 6.6%.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.