Flutter Entertainment aims to triple profits

Flutter Entertainment aims to triple its base profit in the US by 2027, targeting $2.5 billion. For this year, the company anticipates generating $800 million. Analysts forecast that over the next two years, the bookmaker could achieve approximately $5 billion, more than double the current year's base profit estimate of $2.5 billion. Additionally, Flutter has announced plans for a $5 billion share buyback, which it intends to execute within the next three to four years, following its third-quarter earnings.

Market research indicates that the US gambling industry is projected to expand to $63 billion by 2030, an increase from the $40 billion forecasted in 2022. Meanwhile, Flutter's prominent brands—such as Betfair and Paddy Power in the UK and Sportsbet in Australia—are also expected to grow, contributing to an estimated revenue of around $3 billion.

Currently, Flutter's market capitalisation is valued at $41 billion, with 32 million active users. Projections for the company's fiscal year 2024 include revenues of $14 billion and an adjusted EBITDA of $2.5 billion.