- Flutter's cash profits set to double by 2027
- FanDuel operator confirms $5bn buyback
Paddy Power and Betfair owner Flutter Entertainment (FLTR) has cemented its position as the leading member of the duopoly at the top of the US sports betting and gaming operator tree, as it predicts that the number of potential gamblers will keep growing across the pond through legalisation on a state-by-state basis.
But questions remain about the path of betting reform in key states California, Texas and Florida. Without those, the growth is still significant: Flutter now expects total adjusted Ebitda to surge to over $5bn (£3.7bn) by 2027, compared with the $2.51bn analyst consensus for 2024. These figures, as well as the 15-17 per cent revenue CAGR (compound annual growth rate) to the 2027 target, exclude those three major states where sports betting is largely illegal.