Flutter Entertainment plc reported significant financial growth for the three and nine months ended September 30, 2024, compared to the same periods in 2023. Total revenue for the third quarter reached $3,248 million, a 27% increase from $2,558 million, while revenue for the nine months was $10,256 million, up 21% from $8,477 million. This growth was driven by a 51% increase in U.S. segment revenue, attributed to the NFL season and new product launches, alongside an 18% rise in the UKI segment due to the European Football Championships.

Gross profit for the third quarter was $1,496 million, compared to $1,172 million in 2023, and for the nine months, it increased to $4,876 million from $4,059 million. Operating profit turned positive at $97 million for the third quarter, recovering from a loss of $137 million in the prior year, while for the nine months, operating profit rose to $590 million from $70 million. However, net income for the third quarter was a loss of $114 million, an improvement from a loss of $262 million in 2023, and for the nine months, net income was $6 million compared to a loss of $309 million.

Adjusted EBITDA for the third quarter increased by 74% to $450 million, with an Adjusted EBITDA margin of 13.9%, up from 10.1% in 2023. For the nine months, Adjusted EBITDA reached $1,702 million, a 37% increase from $1,243 million, with a margin of 16.6%, up from 14.7%.

The company’s total assets grew to $25,480 million as of September 30, 2024, from $24,635 million at the end of 2023. Total liabilities also increased to $13,470 million from $13,267 million. Notably, Flutter completed the acquisition of MaxBet for $143 million in January 2024, contributing $149 million in revenue and $10 million in profit after tax since the acquisition.

Flutter's strategic initiatives included restructuring costs of $42 million for the third quarter and $87 million for the nine months, aimed at consolidating technology infrastructure and relocating operations. The company also announced a share repurchase program of up to $5 billion over the next three to four years.

As of September 30, 2024, Flutter had long-term debt of $6,843 million, down from $7,005 million at the end of 2023, and cash and cash equivalents of $1,483 million. The company is also preparing for further acquisitions, including a €2.5 billion loan to fund the strategic acquisition of Snaitech S.p.A., expected to close in 2025.