Flutter CEO lauds “direct-to-casino” customer acquisition as igaming driver
FanDuel continues to go from strength to strength in igaming after a 49% YOY rise in revenue as Peter Jackson points to product gains as another reason behind actives spike
Flutter Entertainment CEO Peter Jackson has lauded FanDuel’s igaming gains in Q1 as revenue and average monthly players for the vertical soared.
Flutter reported the US brand had also snared a 27% igaming market share based on GGR during the first three months of the year, representing a four percentage point increase year on year (YOY).
Though Flutter’s Q1 results did not break down the number of average monthly players (AMPs) by vertical, the operator has revealed AMPs within the igaming arm rose 34% YOY while revenue increased 49% to $358m in the US.
The Q1 results also disclosed an exceptional slots performance, with 73% revenue growth in comparison to the same period in 2023. Flutter has made clear that further slot innovation is expected as the operator looks to build on this momentum.
Reflecting on the Q1 performance within US igaming, Jackson discussed how FanDuel was reaping the benefits of direct-to-casino customer acquisition to drive growth.
He said: “FanDuel is now the number one player in igaming. We’ve taken significant share. We’re doing that with real strength in the direct-to-casino space.
“I mentioned earlier the strength we have in slots,” the CEO continued. “It is 70% of the market, the fastest growing part of the market, so it is a place you want to be strongest, and we’ve got some exclusive content there.
“We are very sophisticated with our application of generosity, it’s something that we think is a very important component of our approach in all facets of the business, whether it’s how we apply our generosity into our sports customers but also igaming.”
Jackson went on to explain that Flutter expects to see a more dominant grip on the igaming market this year.
“I think from an igaming perspective, we were always sort of confident that 2024 was the year where we try and take market leadership,” he said. “It was about fixing broken things. It was reaching product parity and getting ahead and that’s what we’ve done.”
He added: “It’s important to recognize that we’ve got ahead by acquiring a lot of business in the direct to casino space. And if you look at customers’ preferences, the direct-to-casino players are much more interested in slots than they are table games.
“Table games are typically used by sports customers who are cross-selling. So that’s why we see that strong growth in slots.”
FanDuel moved to improve its online casino offering in February after acquiring BeyondPlay for an undisclosed sum. The move saw the startup, which was established in 2021 by Karolina Pelc, become part of FanDuel Casino.
In turn, FanDuel Casino will offer the supplier’s two flagship products in the form of a jackpot management system and social gaming product.
Shortly after the acquisition was confirmed, BeyondPlay declared that the supplier’s focus will remain on product development and innovation.