# FanDuel Handle Rises 13% as Flutter Cuts 2026 Revenue Outlook By John Kim Canonical URL: https://www.tokenpost.com/news/business/49503 Published: 2026-11-05T19:12:31.000Z Updated: 2026-11-05T19:12:31.000Z Section: Business > Promotional spending rose as sportsbook revenue grew 4%. Flutter also posted a $1.15 billion net loss that included an impairment tied mainly to Brazil. Flutter Entertainment's U.S. sportsbook handle advanced 13% in the third quarter, ahead of 4% revenue growth, as promotional spending rose and the company lowered its 2026 outlook after a $1.15 billion net loss. Companywide revenue increased 2% year over year to $3.87 billion. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell about 25% to $360 million. Flutter recorded an adjusted loss of 18 cents per share; its net loss included an $873 million noncash impairment. FanDuel's U.S. sportsbook averaged 9% more monthly players and processed 15% more bets. Across Flutter's U.S. business, average monthly players rose 12%, with online gaming up 24%. FanDuel introduced a nationwide rewards program in September. CEO Dan Taylor said the program had “resonated really, really well.” Flutter has increased media spending to build FanDuel Predicts, a prediction platform that competes with Kalshi and Polymarket. Taylor said trading volume on the platform was up 271% from July, while the app added 140,000 customers in October. He pointed to room for expansion in regulated U.S. markets: about half the country lacks access to regulated sports betting, and 90% lacks regulated online gaming. Taylor said Flutter expects product mix changes to support stronger margins over time. Flutter said Brazil-related complications and sports results across the U.S. and other markets drove the forecast cuts. The impairment was tied primarily to Brazil, which banned sports betting and online gaming in September. Flutter had previously [estimated its Brazil exit would reduce 2026 revenue by about $70 million]() and adjusted EBITDA by about $20 million. The company cut the midpoint of its 2026 revenue outlook by $300 million to $17.61 billion. It lowered its adjusted EBITDA outlook by $160 million to nearly $2.5 billion. Taylor said Flutter needs to bring leverage back within its target range of 2 to 2.5 times over roughly 24 months before it can consider share buybacks again. He said the company’s current priorities are organic growth and debt repayment. ## Links in this article - [estimated its Brazil exit would reduce 2026 revenue by about $70 million](https://www.tokenpost.com/news/investing/26239)