FanDuel's US adjusted EBITDA nearly disappeared in the third quarter of 2026, even as US revenue rose 6%. Flutter blamed spending on FanDuel Predicts and its Alberta launch, while FanDuel Casino's revenue growth slowed to 8%.

FanDuel’s US business barely turned a profit in the third quarter of 2026. US adjusted EBITDA came in at just $3 million, against $51 million a year earlier. Revenue moved the other way, climbing 6% to $1.455 billion. Flutter blamed spending on FanDuel Predicts and its launch in Alberta.

For the regulated US market, the result shows how much prediction-market spending is costing one of its online leaders. The parent company also lowered its full-year outlook for 2026. Buybacks are on hold for the foreseeable future so Flutter can focus on organic investment and paying down debt. Leverage stood at 4.6x at the end of the quarter, up from 3.7x in December 2025.

The group’s net loss widened to $1.148 billion from $789 million a year earlier.…