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Flutter Entertainment posts strong 2025 growth but books loss on India impairment

Story Highlights
  • Flutter grew 2025 revenue and EBITDA strongly but reported a net loss driven mainly by a large non-cash India impairment and higher financing costs.
  • The group reinforced U.S. and international market leadership, while 2026 guidance signals slower profit growth amid heavier investment and regulatory headwinds.
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Flutter Entertainment posts strong 2025 growth but books loss on India impairment

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The latest update is out from Flutter Entertainment PLC ( (FLUT) ).

Flutter Entertainment reported 2025 revenue up 17% to $16.4bn and adjusted EBITDA up 21% to $2.85bn, supported by 14% growth in average monthly players and contributions from acquisitions. Despite this operational strength, the group posted a net loss of $407m, largely driven by a $556m non-cash impairment linked to regulatory changes in India and higher interest and tax costs.

In the U.S., Flutter cemented its market leadership with 41% sportsbook and 28% iGaming GGR share in Q4, boosted by strong sportsbook margins, the Missouri launch and the rollout of FanDuel Predicts across prediction markets. International revenue rose 19% helped by M&A and growth in South-East and Central and Eastern Europe, though the India exit and volatile sports results weighed on organic sportsbook performance.

The company returned $1bn to shareholders, saw free cash flow decline due to heavier capex and deal activity, and ended 2025 with leverage of 3.7x following acquisitions in the U.S., Italy and Brazil. For 2026, Flutter guided to 12% revenue growth and modest adjusted EBITDA expansion, with increased investment in U.S. prediction markets and Brazil, and headwinds from UK tax hikes and the Indian market exit shaping returns for investors.

More about Flutter Entertainment PLC

Flutter Entertainment is a global online sports betting and iGaming operator, listed in New York and London, with leading brands including FanDuel. The group focuses on regulated markets, with particular scale in the U.S., as well as strong positions across international regions such as South-East Europe, Central and Eastern Europe, Italy and Brazil.

See more data about FLUT stock on TipRanks’ Stock Analysis page.

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