Flutter remains the world’s largest gambling company, but US rivals are growing faster 

Ron Emmerink

• 20 Aug 2026 • Reading time: 4 minutes

With revenue of €14.50 billion, Flutter Entertainment is the clear leader in the global gambling industry. The group grew by 17 per cent in 2025 and achieved almost twice as much revenue as the number two, Allwyn. 

These results were achieved whilst Peter Jackson was still at the helm. He has been in charge since 2018 but is set to step down on 30 September 2026. Dan Taylor will take over as Group CEO the following day, Flutter confirmed in an official press release. 

These are the eleven largest gambling companies in the world 

Following its merger with OPAP, Allwyn is firmly in second place. Since March 2026, CEO Robert Chvatal has been leading an Athens-listed group with an estimated value of around €16 billion. Allwyn also expanded into the United States by acquiring 62.3% of PrizePicks. Upon completion, $1.53 billion was paid for the acquisition, excluding any potential top-up payments. 

Entain follows with €6.31 billion. Revenue from the United States is not included in this figure, as BetMGM is listed separately in the rankings. Stella David became interim CEO in February 2025 and was appointed permanently two months later. 

bet365 also remains one of the world’s largest privately-owned gambling companies, with a turnover of €4.78 billion. Founder Denise Coates runs the company alongside John Coates. bet365’s non-standard financial year ran up to and including 30 March 2025. 

DraftKings and BetMGM are growing the fastest 

DraftKings recorded one of the strongest growth figures at 27 per cent. Turnover rose above $6 billion, equivalent to approximately €5.36 billion. Co-founder Jason Robins has led the US company since its foundation in 2012. Furthermore, in 2025, DraftKings closed a full financial year with a net profit for the first time. 

BetMGM grew even faster. The joint venture between MGM Resorts and Entain saw revenue rise by 33% to $2.8 billion, equivalent to approximately €2.48 billion. It also achieved a positive EBITDA of $220 million. Adam Greenblatt has been leading BetMGM since 2020. 

Super Group, Betway’s parent company, grew by 22% to €1.97 billion. Kaizen Gaming, known for Betano, recorded 13% growth, whilst Lottomatica saw a 12% increase. Betsson rounded off the list with a turnover of nearly €1.20 billion, an increase of 8%. 

Acquisitions reshape the global rankings 

The rankings were heavily influenced by acquisitions. In April 2025, Flutter completed the acquisition of Snaitech for €2.3 billion. This strengthened the group’s position in the key Italian market. 

Flutter also acquired a majority stake in the Brazilian NSX Group. NSX’s operations, including Betnacional, were merged with Betfair’s existing Brazilian operations. 

Flutter subsequently paid approximately $1.76 billion to acquire the remaining stake in FanDuel. This made the group the sole owner of the US market leader in online sports betting. 

At FDJ UNITED, the reported 20% revenue growth paints a misleading picture. This increase is mainly due to Kindred being consolidated since October 2024. On a like-for-like basis, revenue fell by 3% in 2025, partly due to higher taxes and stricter regulation. 

The figures for Kaizen Gaming and BetMGM are included in full, although neither is fully consolidated by a parent company. Entain’s US revenue, on the other hand, has been excluded to avoid double-counting with BetMGM. 

The next major shift may already be in the pipeline. In June 2026, People Inc., owned by media magnate Barry Diller, made a bid of over $18 billion for MGM Resorts International. Should that takeover go ahead, the ownership structure surrounding Entain’s 50 per cent stake in BetMGM could also come under review once again.