Flutter Q1 revenue up 14% as Brazil surge counters US slowdown

(AsiaGameHub) –   Flutter Entertainment reported first-quarter 2026 revenue of $4.30 billion, marking a 14% increase compared to Q1 2025. This strong year-over-year growth was largely driven by rapid expansion in Brazil and solid international performance, which helped counterbalance weaker momentum in the US market and associated margin pressures.

Adjusted EBITDA reached $616 million, up 20% from the prior year, though it was affected by higher costs and foreign exchange impacts on profitability.

International revenue stood at $2.54 billion, reflecting a 27% rise over the same period last year, supported by robust growth across multiple regions. The most significant gains were recorded in Southern Europe and Africa (110%), while Central and Eastern Europe saw a 14% increase.

A standout performer was Brazil, where year-on-year revenue surged by 722%, boosted by the integration of Betnacional into Flutter’s operations. CEO Peter Jackson noted that “Flutter is investing with conviction in Brazil” and anticipates the country will remain a key long-term growth market for the company.

Flutter CEO Peter Jackson stated:

While we achieved meaningful progress this quarter, additional efforts are required to sustain the positive trends in our US sportsbook business. Today, we announced management changes aimed at positioning the company for its next phase of growth. The core fundamentals of our business remain strong, and I am confident in our strategy, organizational structure, and global portfolio of local hero brands to capture the substantial long-term growth opportunities ahead. I am optimistic about continued progress throughout the remainder of 2026.

Despite robust top-line growth, mounting cost pressures and foreign exchange losses led to a sharp decline in net profit, which fell to $84 million. However, Adjusted EBITDA rose slightly to $631 million.

Owing to ongoing challenges in the US market and increased investment initiatives, Flutter has revised its full-year revenue guidance downward to $18.31 billion and lowered its full-year Adjusted EBITDA projection to $2.87 billion.