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Flutter Entertainment PLC on Wednesday warned that customer-friendly sports results across November and December have hit its full-year US revenue forecast. The New York-based owner of Sky Bet and Paddy Power said it now expects US revenue for 2024 to be around $5.78 billion, lowered from the previous $6.05 billion to $6.25 billion guidance range. It anticipates US adjusted earnings before interest, tax, depreciation and amortisation to be around $505 million, down between 28% and 39% from its prior $670 million to $750 million prediction. ‘The 2024/2025 NFL season to date has been the most customer-friendly since the launch of online sports betting, with the highest rate of favourites winning in nearly 20 years,’ Flutter explained. Fourth quarter US revenue for 2024 is therefore now expected to be around $1.59 billion, down 51% on-year from $2.67 billion, and adjusted Ebitda is estimated at around $161 million. Flutter is due to release its fourth-quarter earnings on March 4. Outside the US, the group said it saw ‘continued good momentum’ in the UK & Ireland, with ‘favourable sports results’ in the English Premier League translating into 2024 revenue and adjusted Ebitda forecasts approximately 1% and 2% higher than the guidance range mid-points provided at the third quarter. It previously expected to issue 2025 guidance at around $6.2 billion as a midpoint for revenue, and $740 million for adjusted Ebitda, but will provide an updated forecast in March. Shares in Flutter Entertainment were down 2.7% at 19,985.00 pence each in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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