Flutter's FanDuel Aims to Lead in iGaming

Date: 2024-02-18 Author: Dima Zakharov Categories: EVENTS
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FanDuel's Three-Year Strategy

Flutter Entertainment, a prominent player in the gaming industry, is determined to excel in iGaming. Peter Jackson outlined a three-year strategy for FanDuel's success, emphasizing their commitment to outperforming the market. He explained, "In the first year, we fixed what was broken. In the second year, we achieved product parity, and in the third year, we aim to get ahead of the market."

M&A as a Growth Driver

Flutter's focus on organic growth extends to Brazil, where they have been making strategic moves. Jackson expressed satisfaction with the performance of Pokerstars and Betfair in Brazil and hopes that the country's impending regulation will further boost their presence. The company has also utilized mergers and acquisitions to strengthen its position in various markets.

Strong Q4 Performance

Despite the seasonal nature of their business, Flutter had a robust Q4 performance in both sports and casino segments. Jackson highlighted their efforts to become a leader in the casino space and expects continued gains in this area. In the UK, gaming revenue increased by 17%, with total average monthly players reaching 3.9 million.

Competitive US Market

Flutter faces intense competition in the US market, where FanDuel's sportsbook holds a 43% gross revenue market share. While revenue rose significantly, it fell short of the initial target by £147 million. Jackson acknowledged the competitive intensity but emphasized the quality of their products and their strong customer acquisition results.

Flutter Entertainment's strategic approach and impressive financial results indicate a promising future as they continue to navigate the dynamic world of iGaming and expand their presence in the US and beyond.
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