FanDuel Owner Sees US Profit Tripling in Fast-Growing Market
- US sales expected to grow 36% at the midpoint of the forecast
- Shareholders will vote in May to move primary listing to US
The FanDuel logo.
Photographer: Pavlo Gonchar/LightRocket/Getty Images
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Gambling group Flutter Entertainment Plc said earnings in the US may more than triple this year as the FanDuel owner continues to expand its American sports betting business.
US adjusted earnings before interest, taxes, depreciation and amortization will grow 206% at the midpoint of its forecast of $635 million to $785 million, the company said in a statement on Tuesday. US sales are expected to grow 36% at the midpoint of the company’s forecast of $5.8 billion to $6.2 billion.