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FanDuel’s U.S. revenue rose 6% year over year to $1.45 billion in the third quarter of 2026, despite unfavorable sports results, according to Covers. Adjusted EBITDA fell 94% to $3 million as parent company Flutter increased investment in prediction markets and expanded into Alberta.
Sportsbook and casino revenue increase
FanDuel’s sports betting revenue grew 4%, while iGaming revenue increased 8%. U.S. betting handle — the amount wagered — rose 13% year over year, outpacing sportsbook revenue growth.
Flutter CEO Dan Taylor said “sports results went against us in the quarter,” according to Covers. He also pointed to progress in the company’s sportsbook improvement plan, citing customer engagement and performance.
FanDuel benefited from its Rewards program and new products, while FanDuel Casino average monthly players increased 24%.
Flutter said FanDuel’s prediction market capabilities “substantially improved” during the quarter. Taylor indicated that marketing intensity was expected to continue in 2027 at levels similar to 2026, with the duration of that spending trend depending partly on regulatory developments.
Flutter cuts full-year financial guidance
Flutter reported group revenue of $3.87 billion and a net loss of $1.15 billion. Its results included an $873 million non-cash impairment charge in Brazil.
International revenue was flat year over year at $2.42 billion. International adjusted EBITDA declined 14%, which Flutter attributed to increased U.K. gaming taxes.
Taylor also said early fourth-quarter sports betting outcomes had been unfavorable in both the U.S. and International segments.
Flutter reduced its 2026 group revenue guidance by $300 million to $17.61 billion and lowered adjusted EBITDA guidance by $160 million to $2.49 billion.
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Source: As reported by Covers.
