DUBLIN (Reuters) – Flutter sees revenue at its rapidly growing and market leading U.S. Fanduel business jumping by 4.5 to 5-times over the long term, the world’s largest online betting firm said on Wednesday.
Flutter, which upgraded its full-year revenue guidance for Fanduel to between $2.95 billion to $3.2 billion last week, told investors that it expects the overall value of the U.S. sports betting and online gaming market to rise to $40.5 billion by 2030 from $9 billion currently.
“We do believe that we’ll be on that high end of the range – five times,” Fanduel Chief Executive Amy Howe said at an investor day, adding that Fanduel was “incredibly confident” of turning a profit for the first time in 2023.
(Reporting by Padraic Halpin; editing by Diane Craft)
