Overview

Flutter Entertainment is a global sports betting, gaming and entertainment company based in Dublin.
 
Flutter’s primary U.S. brand is FanDuel.

Business segments and operations

Flutter’s brands and operations include FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Junglee Games and Adjarabet.
 
Flutter’s U.S. division includes the FanDuel and TVG brands. The U.S. division offers sports betting, casino, daily fantasy sports and horse racing wagering products across various states, mainly online but with sports betting services also provided through a small number of retail outlets.
 
See more: Flutter’s business and brands

Worldwide ad spending:
Total worldwide advertising spending figures shown in the Ad Age World’s Largest Advertisers report are the company’s stated “sales and marketing” costs.

Flutter disclosed worldwide sales and marketing costs of $3.776 billion in 2023, up 25.3% from $3.014 billion in 2022.

Sales and marketing expenses consist primarily of expenses associated with advertising, sponsorships, market research, promotional activities, amortization of trademarks and customer relations, and the compensation of sales and marketing personnel, including share-based compensation expenses.

Flutter also disclosed worldwide advertising costs, which are a subset of sales and marketing costs. Stated worldwide advertising costs:

2023: $1.703 billion (45.1% of sales and marketing costs)
2022: $1.626 billion (53.9%)
2021: $1.558 billion (55.3%)

U.S. ad spending:
Total U.S. advertising spending figures shown in the Ad Age Leading National Advertisers report are the company’s estimated U.S. sales and marketing costs based on company disclosures.

Links to Ad Age’s advertiser rankings

Latest rankings: U.S.

The Ad Age Leading National Advertisers 2024 ranking was released Oct. 28, 2024.

Past rankings: U.S.

Ad Age Leading National Advertisers 2023
Ad Age Leading National Advertisers 2022

Latest rankings: worldwide

The Ad Age World’s Largest Advertisers 2024 ranking was released Dec. 9, 2024.

Past rankings: worldwide

Ad Age World’s Largest Advertisers 2023
Ad Age World’s Largest Advertisers 2022

Financial results

See more: Flutter financial results
 
Read Flutter’s annual filing

Effective with its financial statements for 2023, Flutter changed its reporting currency to U.S. dollars from British pounds.

FanDuel Group:
Flutter in December 2020 increased its ownership in FanDuel Group to 95% from 57.8%.

The company in 2018 combined its U.S. business with FanDuel Ltd., creating FanDuel Group, in which Flutter held a majority stake.

(FanDuel and U.S. rival DraftKings in November 2016 announced plans to merge. The companies aborted the planned merger in July 2017 after U.S. federal regulators sued to block the deal.)

Stars Group:
Flutter in May 2020 bought The Stars Group, a Toronto-based online and mobile gaming and interactive entertainment company.
 
Stars Group’s products included real- and play-money poker, gaming and betting product offerings under brands including PokerStars, PokerStars Casino, BetStars, Full Tilt, Fox Bet, BetEasy, Sky Bet, Sky Vegas, Sky Casino, Sky Bingo, Sky Poker and Oddschecker; live poker tour and events brands including the PokerStars Players No Limit Hold’em Championship, European Poker Tour and Asia Pacific Poker Tour.

Fox Corp. agreement:
Flutter closed Fox Bet in August 2023. Fox Corp. has the right for future use of the Fox and Fox Bet brands including Fox Bet Super 6.

Stars Group and Fox Sports, a unit of Fox Corp., in May 2019 announced plans to launch Fox Bet as part of a U.S. national media and sports wagering partnership under a commercial agreement of up to 25 years. Under the deal, Fox Sports received certain brand license, integration and affiliate fees. In addition, during the term of the commercial agreement, Stars Group agreed to a minimum annual advertising commitment on certain Fox media assets. Prior to the 10th anniversary of the commercial agreement, Fox Sports had the right to acquire up to a 50% equity stake in Stars Group’s U.S. business.

Fox Corp.’s 10-K filing for fiscal 2024 (year ended June 2024) said:

“The company holds an equity interest in Flutter, an online sports betting and gaming company with operations in the U.S. and internationally.

“The company owns approximately 4.3 million ordinary shares, which represents approximately 2.4% of Flutter as of June 30, 2024.

“In addition Fox Sports holds a 10-year call option expiring in December 2030 to acquire an 18.6% equity interest in Flutter’s majority-owned subsidiary, FanDuel Group (FanDuel), the exercise of which is subject to certain conditions and applicable gambling regulatory approvals.

“As of June 30, 2024, the option exercise price is approximately $4.3 billion. Fox has no obligation to commit capital towards this opportunity unless and until it exercises the option. In addition, Flutter cannot pursue an initial public offering for FanDuel without Fox’s consent or approval from the arbitrator.”

Betfair Group:
Paddy Power plc and Betfair Group plc merged in February 2016. The merger was accounted for as an acquisition of Betfair Group by Paddy Power. Paddy Power plc changed its name to Paddy Power Betfair plc following the merger.

Management and employees

See more: Flutter management
 
See more: Flutter careers

Stock

Flutter trades on the New York Stock Exchange and the London Stock Exchange.

New York Stock Exchange ticker: FLUT

The company began trading on the London Stock Exchange and the Irish Stock Exchange in December 2000 under the name Power Leisure plc. It ceased trading on the Irish Stock Exchange in January 2024. 

History

Power Leisure plc, which operated Paddy Power Bookmakers, expanded beyond licensed betting offices and telephone betting operations with the June 2000 launch of an internet-based service, paddypower.com.
 
Power Leisure plc in 2002 changed its name to Paddy Power plc.
 
Paddy Power plc changed its name to Paddy Power Betfair plc following the merger of Paddy Power plc and Betfair Group plc in 2016. 
  
Paddy Power Betfair plc changed its name to Flutter Entertainment plc in 2019.