Flutter Entertainment, which owns Leeds-based Sky Betting and Gaming, has reported a 27% revenue rise to $3.2bn/£2.5bn (Q3 2023: $2.6bn/£2bn) in its third quarter 2024 results.

Average monthly player numbers were up 16% in the same period, from 11.1 million to 12.9 million. The business also recorded a pre-tax loss of $130m/£102m (Q3 2023: $273m/£214.3m pre-tax loss).

Peter Jackson, CEO, said: “Flutter had an excellent quarter with revenue growth accelerating to 27%, well ahead of market expectations, and increases to our revenue and Adjusted EBITDA guidance for 2024.

“In UK and Ireland, a broader product range across both sports and iGaming drove player and revenue growth.

“[Online gaming operator] Sisal continued to make significant share gains in Italy as we look to expand our presence there with the addition of [betting operator] Snai. In Australia, Sportsbet has been demonstrating encouraging trends. 

“We believe the group has exciting growth prospects due to our unparalleled leadership positions across the world. We expect to have significant capital to deploy over the coming years.”

Highlights for the period included Flutter’s acquisitions of NSX and Snai, which it says will expand its reach in the markets of Brazil and Italy.

The business has also revealed a share repurchase programme of up to $5bn/£3.9bn over the next three to four years. The first tranche of this programme will begin tomorrow – 14 November 2024.