Boosted by nearly 16 million average monthly players (an 11 percent increase), FanDuel parent company Flutter Entertainment increased second-quarter revenue by 16 percent year-over-year, taking in US$4.2 billion.
However, profits plummeted 88 percent, to US$37 million, primarily due to a non-cash charge. Cash flow for Flutter grew 25 percent to US$919 million.
In the United States, FanDuel igaming revenue catapulted 42 percent, while sports betting winnings rose 11 percent. U.S.-derived cash flow was US$400 million, buoyed by favorable sports outcomes and protracted NBA playoffs.
International revenue and cash flow swelled 15 percent and 13 percent, respectively, as the acquisitions of SNAI in Italy and NSX in Brazil were integrated.
