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Flutter Entertainment (NYSE: FLUT) reported its Q1 2024 financial results, showing significant growth in revenue and adjusted EBITDA, despite a rise in net loss. Key highlights include a revenue increase of 16% to $3.4 billion, adjusted EBITDA up by 46% to $514 million, and average monthly players (AMPs) rising by 11% to 13,722.
However, the net loss widened by 59% to $177 million primarily due to non-cash charges. FanDuel continued to lead the US market in sports betting and iGaming, with a 32% revenue increase in the US. Ex-US, the acquisition of MaxBet bolstered revenue. Despite unfavorable sports results, Flutter remains confident in its 2024 financial guidance.