Flutter’s UK-and-Ireland iGaming revenue rose 12% to $540 million in the three months to September 30, 2026. Yet the segment’s sportsbook revenue fell 6%, leaving overall segment revenue up 4%.

Gaming growth helped lift UK-and-Ireland revenue, but it did not prevent Flutter from cutting its wider 2026 outlook.

Growth in gaming, weakness in sportsbook

Results released on November 4 show a sharp divide between the two parts of Flutter’s UK-and-Ireland business:

  • iGaming revenue was $540 million, up 12% year on year.
  • Sportsbook revenue was $309 million, down 6%.
  • Total segment revenue was $889 million, up 4%.

Flutter said stronger UK-and-Ireland performance supported group revenue. But it also said the UK gaming tax increase pressured international adjusted earnings. The company did not disclose separate UK-and-Ireland earnings, so the segment’s revenue growth does not show how its profit changed.

Lower forecasts and a Brazil charge

Flutter cut its 2026 group revenue midpoint by $300 million to $17.61 billion. It lowered its adjusted earnings before interest, taxes, depreciation and amortisation midpoint by $160 million to $2.495 billion. The company cited adverse sports results and the closure of its Brazil business.

A non-cash impairment of $873 million related to Brazil contributed to Flutter’s $1.148 billion net loss for the quarter.

Reuters reported that Flutter would pause share buybacks as it prioritises investment, cost savings and debt reduction. For UK readers, the figures show why rising gaming revenue does not tell the whole story: sportsbook weakness, higher tax costs and pressure elsewhere in the group are shaping the outlook.