Global iGaming Operators Report Strong Earnings Across North America and Europe
Several major global betting and gaming companies have reported strong financial performance for fiscal year 2025, highlighting continued expansion across regulated sportsbook and online casino markets.
Operators including Flutter Entertainment, DraftKings, Entain, Caesars Entertainment, Rush Street Interactive and Light & Wonder all reported revenue growth and rising EBITDA in their latest earnings releases.
The results underline strong consumer demand for regulated sports betting and digital casino platforms, particularly across North America and Europe, where regulated online betting markets continue to expand.
The latest financial reports also demonstrate how leading operators are strengthening their market positions through product innovation, technology investment and expansion into newly regulated jurisdictions.
North America Continues to Drive Industry Growth
The North American betting market remains one of the fastest-growing regulated gambling sectors globally. Several leading operators reported strong performance across sportsbook and iGaming products during 2025.
Flutter Entertainment
Flutter Entertainment, one of the world’s largest online betting operators, delivered strong results driven largely by its FanDuel sportsbook and iGaming platform in the United States, according to its latest FY2025 revenue report.
Key financial highlights from Flutter’s 2025 results include:
- $16.4 billion group revenue
- $2.8 billion adjusted EBITDA
- 17.4% adjusted EBITDA margin
- 15.9 million average monthly players (AMPs)
FanDuel maintained its leadership position in the US market, with 41% share of online sportsbook gross gaming revenue (GGR) and 28% share of iGaming GGR during the fourth quarter.
Flutter CEO Peter Jackson said the company’s global scale and brand portfolio continue to support its long-term growth strategy across regulated markets.
DraftKings
US-based digital betting operator DraftKings also reported strong financial growth during fiscal year 2025, following 43% Q4 revenue growth and record earnings performance.
Key results from the company’s earnings report include:
- $6.05 billion total revenue for 2025
- $619.9 million adjusted EBITDA
- $1.99 billion revenue in Q4 2025, representing 43% year-over-year growth
- 4.8 million monthly unique paying users (MUPs)
DraftKings currently operates mobile sports betting in 26 US states and Washington, D.C., covering approximately 52% of the US population, while its iGaming platform is live in five US states and Ontario, Canada.
DraftKings CEO Jason Robins said the company finished the year strongly and sees significant opportunities ahead.
“We closed 2025 on a high note. Our core business is strong as we enter 2026,” Robins said in the company’s earnings release.
Rush Street Interactive
Online casino and sportsbook operator Rush Street Interactive (RSI) also reported continued growth across its digital betting platforms, according to its latest 2025 revenue results report.
Key highlights from RSI’s 2025 financial results include:
- $1.13 billion total revenue
- $153.7 million adjusted EBITDA
- Continued growth of the BetRivers sportsbook and online casino platforms
RSI continues expanding its presence across regulated online betting markets in the United States, Canada and Latin America, where the company has been strengthening its digital gaming ecosystem.
Caesars Entertainment
Casino and hospitality operator Caesars Entertainment also reported growth in its digital betting segment through Caesars Digital, which includes its sportsbook and online casino platforms.
Key financial highlights from Caesars Entertainment’s FY2025 results include:
- $11.5B total net revenue for fiscal year 2025
- $3.7 billion adjusted EBITDA across the company’s operations
- $1.16 billion net revenue from Caesars Digital segment
- $117 million adjusted EBITDA from Caesars Digital, reflecting improved profitability in the company’s online betting business
While Caesars operates a large portfolio of land-based casino resorts across the United States, its digital segment has become an increasingly important growth driver as online sports betting and iGaming markets expand.
The company continues investing in technology, customer acquisition and product development to strengthen its Caesars Sportsbook and Caesars Palace Online Casino platforms across regulated US markets.
Caesars CEO Tom Reeg said the company continues to see strong momentum in its digital business as it focuses on improving profitability and expanding its online gaming ecosystem.
Light & Wonder
Gaming technology provider Light & Wonder also delivered strong results across its gaming machines, digital gaming platforms and iGaming content distribution businesses, following its latest FY2025 earnings report.
Key financial highlights from the company’s 2025 earnings report include:
- $3.3 billion total revenue
- $1.44 billion consolidated AEBITDA
- $276 million net income
- $794 million operating cash flow
Light & Wonder President and CEO Matt Wilson said the company achieved strong growth across its business segments.
“We closed out 2025 with another strong quarter, delivering double-digit year-over-year growth in both revenue and cash flows,” Wilson said in the company’s earnings release.
European Betting Markets Show Stable Expansion
European betting operators also reported steady growth across their regulated markets.
Entain
Global betting group Entain, which operates brands such as Ladbrokes, Coral, bwin and Sportingbet, reported strong performance during fiscal year 2025 according to its FY25 results report.
Key financial highlights from Entain’s results include:
- £5.3 billion Net Gaming Revenue (NGR)
- £1.16 billion EBITDA
- Online NGR growth of 6% (excluding the US)
Entain’s US joint venture BetMGM, operated in partnership with MGM Resorts, also reported strong performance with:
- $2.8 billion revenue
- $220 million EBITDA
The results reflect continued expansion in regulated sportsbook and online casino markets across both Europe and North America.
Entain CEO Stella David said the company remains focused on strengthening its leadership positions in regulated markets while improving operational performance.
Global Online Betting Market Continues to Expand
Industry forecasts suggest the regulated online betting and iGaming market will continue expanding rapidly over the coming years.
Flutter estimates that the global regulated online sports betting and iGaming market could reach approximately $368 billion by 2030.
This growth is expected to be driven by:
- expansion of regulated betting markets
- increasing smartphone adoption
- improvements in digital gaming technology
- growing demand for mobile betting platforms
As more countries introduce regulated betting frameworks, global operators are expected to increase investment in product innovation, technology platforms and customer engagement strategies.
The latest financial results from leading betting companies demonstrate that the industry remains on a strong growth trajectory, particularly in regulated markets across North America and Europe.
Global iGaming Market Outlook
Collectively, fiscal 2025 results suggest the global iGaming sector is entering a more mature phase defined less by aggressive market land-grabs and more by operational efficiency, profitability and durable market leadership.
North America continues to function as the industry’s primary growth engine, while Europe delivers stable, high-value revenue from established regulated markets. At the same time, technology suppliers are benefiting from sustained demand as operators invest in platform control, product differentiation and long-term retention strategies.As observed by iGaming News Today, competitive advantage is increasingly determined by scale, regulatory positioning and the ability to convert market share into consistent earnings.
Source : DraftKings, Light & Wonder, Rush Street Interactive, Caesars Entertainment, Flutter Entertainment And Entain
