Flutter Entertainment plc

Is Flutter Entertainment publicly traded?
Yes. Flutter Entertainment plc is listed on the New York Stock Exchange under the ticker FLUT and on the London Stock Exchange under the ticker FLTR. The company has approximately 175.3 million ordinary shares outstanding as of February 2026.

Does Flutter Entertainment own Stake?
No. Flutter Entertainment does not own Stake. Stake is a separate cryptocurrency-focused gambling platform operated by Easygo Solutions. Flutter's brand portfolio includes FanDuel, PokerStars, Paddy Power, Sky Betting & Gaming, Sportsbet, Betfair, tombola, Adjarabet, MaxBet, and Snaitech.

When was Flutter Entertainment founded?
Flutter Entertainment was formed in 2016 through the merger of Paddy Power (founded 1988) and Betfair (founded 2000). The company was initially named Paddy Power Betfair and rebranded as Flutter Entertainment in 2019.

Who is the CEO of Flutter Entertainment?
Peter Jackson has served as CEO since 2017. In Q2 2026, he announced his departure after nearly nine years. Dan Taylor was named as his successor, with the transition scheduled for the end of Q3 2026.

How much revenue did Flutter Entertainment generate in 2025?
Flutter Entertainment reported FY2025 revenue of $16.38 billion, a 17% increase from $14.05 billion in 2024. Adjusted EBITDA was $2.85 billion, up 21% year over year. The company reported a net loss of $407 million for the year.

What is FanDuel's market share?
FanDuel held a 41% share of the US online sports betting gross gaming revenue market and a 28% share of the iGaming market in Q4 2025. FanDuel's estimated share of total market EBITDA in the US is approximately 70%.

How much did Flutter pay for Snaitech?
Flutter acquired Snaitech (Snai), one of Italy's leading omni-channel gambling operators, for approximately $2.6 billion (EUR 2.3 billion) in 2025. The acquisition strengthened Flutter's position in the Italian market.

Flutter Entertainment's origins trace back to 1988, when Paddy Power was founded in Dublin by a merger of three Irish bookmaking shops. Paddy Power went public on the Irish and London stock exchanges in 2000 and built a reputation for irreverent marketing and retail betting shops across Ireland and the United Kingdom.

In 2016, Paddy Power merged with Betfair, a British online betting exchange founded in 2000. The combined entity was initially named Paddy Power Betfair. The merger created one of the largest online gambling companies in the world, combining Paddy Power's retail and online sportsbook with Betfair's betting exchange technology.

The company rebranded as Flutter Entertainment in 2019, named after a former Betfair holding company. That same year, Flutter acquired The Stars Group, the parent company of PokerStars, in an all-share transaction valued at approximately $12.5 billion. This acquisition brought PokerStars, Sky Betting & Gaming, and BetEasy into the Flutter portfolio.

FanDuel, originally a daily fantasy sports platform founded in 2009, was acquired by Flutter in December 2018 through a merger that gave Flutter a 61% stake initially. Flutter subsequently increased its ownership to 95% in 2021 and to 100% in December 2023, consolidating FanDuel as its largest brand by revenue.

In 2025, Flutter acquired Snaitech (Snai), one of Italy's leading omni-channel sports betting and iGaming operators, for approximately $2.6 billion (EUR 2.3 billion). The company also launched FanDuel Predicts in partnership with CME Group, a prediction markets product that began a phased national rollout in December 2025.

In Q2 2026, CEO Peter Jackson announced his departure after nearly nine years leading the company. Dan Taylor was named as his successor, with the transition scheduled for the end of Q3 2026.

Flutter Entertainment publishes sustainability reports covering responsible gambling, environmental impact, and social initiatives. The company has committed to science-based emissions reduction targets.

Responsible gambling is a regulatory and reputational priority for Flutter. The company invests in safer gambling tools, player protection systems, and staff training. Gambling addiction and regulatory scrutiny of the industry remain ongoing concerns.

Flutter's operations are subject to licensing and regulatory oversight in every jurisdiction where it operates. The company holds licenses from state gaming regulators in the US, the UK Gambling Commission, the Irish Revenue Commissioners, and other national regulatory bodies.

The online gambling industry faces ongoing regulatory and social scrutiny. Flutter has been affected by several specific issues.

In 2025 and 2026, the UK government implemented increases to gambling taxes, which Flutter cited as a factor affecting its International segment profitability. The company also faced regulatory changes in India that led to its exit from that market.

The company's leverage ratio increased to 3.7x at the end of 2025, up from 2.2x the prior year, primarily due to the Snaitech acquisition. This higher leverage drew attention from credit rating agencies and analysts.

In Q2 2026, Flutter reported a net loss of $296 million, driven by adverse sports results in the US and increased investment in prediction markets. The company reduced its full-year 2026 guidance, lowering revenue expectations by $395 million to $17.91 billion and adjusted EBITDA by $210 million to $2.655 billion.