Flutter sees profits doubling by 2027, authorises $5 billion share buyback

FILE PHOTO: Peter Jackson, CEO of Flutter Entertainment, attends the FanDuel parent company’s listing at the New York Stock Exchange (NYSE) in New York City, U.S., January 29, 2024. REUTERS/Brendan McDermid/File Photo

DUBLIN (Reuters) - Flutter, the world's largest online betting company, said on Wednesday it expects to more than double its core profit by 2027 and that it had authorised a share buyback of up to $5 billion to be deployed over that period.

Flutter, which has forecast full-year profit of $2.5 billion this year, said that should reach over $5 billion by 2027, with almost half coming from the booming U.S. market that it now sees growing at a faster than expected pace by 2030.