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the-axios-show

Flutter, the parent company of sports betting giant FanDuel, gathered in New York's financial district to speak to U.S. investors and analysts for the first time since moving its main listing to the U.S.

Why it matters: The rapid growth of sports betting and online gaming is making Flutter one of the most acquisition-heavy companies globally.

Here are three takeaways from the four-hour presentation:

Flutter CEO Peter Jackson began the afternoon by touting how the sports betting and online casino market in the U.S. is growing faster than they anticipated. 

The size of the U.S. market is now expected to reach $63 billion by 2030, more than 50% higher than Flutter's previous forecast in 2022. Including Canada, the North American market is expected to reach $70 billion.

Much of that prediction relies on sports betting becoming legalized in major states like California and Texas. 

Flutter's international growth is driven entirely by M&A, since sports betting and online gaming are fragmented markets across different regions. 

Flutter's international CEO Dan Taylor says they're focused on four emerging markets: Latin America, India, Turkey and North Africa and Central and Eastern Europe. 

He highlighted Brazil as the next big international market. Earlier this month, Flutter invested $350 million in NSX Group, which operates the country's Betnacional brand. 

"Next year, Brazil will be one of the largest regulated markets in the world," Taylor said.

Online gaming (colloquially known as "iGaming"), which encompasses free-to-play and online casino games, is much more splintered in international markets with Flutter running multiple brands in the same territory.

During the Q&A portion, FanDuel CEO Amy Howe said they were unlikely to do that in the U.S. and downplayed the need for acquisitions to grow that part of their business.

"Would we completely rule out a second brand? Not necessarily, but it would have to be additive to what we're already doing."

Flutter touts U.S. gambling boom, global M&A at investor day

FanDuel's parent company recently moved its stock listing to NYSE.

Flutter CEO Peter Jackson at the company's investor day

Flutter CEO Peter Jackson speaking during Flutter's investor day at Cipriani 25 Broadway in New York. Photo: Tim Baysinger/Axios

Sports betting

Flutter, the parent company of sports betting giant FanDuel, gathered in New York&#x27;s financial district to speak to U.S. investors and analysts for the first time since moving its main listing to the U.S.Why it matters: The rapid growth of sports betting and online gaming is making Flutter one of the most acquisition-heavy companies globally.

Flutter touts U.S. gambling boom, global M&A at investor day

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