Flutter Entertainment PLC

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Flutter Entertainment Plc engages in the business of online betting and gaming. It operates through the following segments: UK and Ireland, Australia, International, and US. The UK and Ireland segment includes the operations of Sky Betting and Gaming, Paddy Power, Betfair, and tombola. The Australia segment focuses on sports betting services provided to Australian customers online. The International segment relates to poker, casino, rummy, lottery, and sports betting. The US segment includes sports betting, daily fantasy sports, and gaming services. The company was founded in 1988 and is headquartered in New York, NY.

​Flutter Entertainment Releases First Quarter 2024 Financial Results DUBLIN, IRELAND & TORONTO, ONTARIO / ACCESSWIRE / May 14, 2024 / Flutter Entertainment (NYSE:FLUT)(LSE:FLTR), the world's leading online sports betting and iGaming operator, today announced results for Q1 20241. Key financial highlights: Three months ended March 31 In $ millions except percentages and average monthly players 2024 2023 YOY Average monthly players (AMPs) ('000s)2 13,722 12,349 +11 % Revenue 3,397 2,918 +16 % Net loss (177 ) (111 ) (59 %) Adjusted EBITDA3,4 514 352 +46 % Adjusted EBITDA Margin 3 15.1 % 12.1 % +310bps Net loss per share($) (1.10 ) (0.58 ) (92 %) Adjusted earnings per share ($)3 0.10 0.69 (85 %) Net cash provided by/(used in) operating activities 337 (49 ) Adjusted Free Cash Flow 3 157 (50 ) Leverage ratio (December 2023 3.1x)3,4 2.8 x Group strategy delivering continued strong growth with revenue +16% US produced another excellent quarter; AMPs2 +15% and revenue +32%, despite unfavorable sports results in the second half of March: FanDuel #1 brand in both sportsbook (net gaming revenue (NGR) share 52%; gross gaming revenue (GGR) share 46%) and iGaming (record GGR share of 27%) in Q1 20245 Very successful launch in North Carolina with 5.3% adult population signed up to FanDuel in first 45 days; new player acquisition in pre-2022 states +12%; projected payback in line with historic trends6 Product enhancements driving iGaming player (AMPs2 +34%) and revenue (+49%) growth FanDuel a founding member of the Responsible Online Gaming Association (ROGA) Group Ex-US AMPs2 +10% and revenue +8% benefitting from strong performance in iGaming (revenue +15%) and the acquisition of MaxBet in January: Improved iGaming cross-sell rates in UKI driven by product improvements In International, Sisal delivered market share gains in Italy, with iGaming performance mitigating the impact of unfavorable sports results US primary listing expected to become effective on May 31, 2024 Q1 2024 financial overview Net loss of $177m, $66m higher year on year, after non-cash charges of $356m due to (i) $172m acquired intangibles amortization; and (ii) $184m (Q1 2023 $64m) fair value change in Fox Option liability Group AdjustedEBITDA3 of $514m, +46%: US Adjusted EBITDA3 of $26m (Q1 2023 -$53m), driven by strong revenue growth and significant operating leverage; Adjusted EBITDA margin3 +680bps, despite continued disciplined US player acquisition investment Group Ex-US Adjusted EBITDA3 of $488m +20%, reflecting increased revenue and Adjusted EBITDA margin3 expansion of 260bps, primarily driven by sales and marketing leverage and a one-offcredit from the settlement of historic litigation Group's financial growth algorithm driving Adjusted EBITDA Margin3 accretion, +310bps to 15.1% Net loss per share and adjusted earnings per share decreases of $0.52 and $0.59 primarily due to the Fox Option charge (-$1.04), offsetting improved financial performance Net cash provided by operating activities increased $386m to $337m primarily driven by the strong operational performance converting into cash and year on year movement in US player deposits Adjusted Free Cash Flow3 of $157m (Q1 2023 -$50m) and leverage ratio3,4 of 2.8x at March 31, 2024 based on last 12 months Adjusted EBITDA3 (December 31, 2023 3.1x), both benefitting from improved financial performance year on year 2024 Outlook Remain confident in financial year 2024 guidance7 provided at financial year 2023 results announcement on March 26, 2024, despite unfavorable US sports results in the last two weeks of March Peter Jackson, CEO, commented: "We have had an excellent start to the year.

Flutter Entertainment PLC Announces Q1 2024 Financial Results

Flutter Entertainment PLC (LSE:FLTR), the owner of Paddy Power and Sky Bet, will be providing one of its last quarterly updates on the London Stock Exchange on Tuesday 14 May. Shareholders voted last month in favour of moving its primary listing over to the US, following the success of its sportsbook FanDuel and the growing divide in valuations overseas.

Flutter to prep for US switch in upcoming results, says analyst

Flutter Entertainment plc is focusing on the revival of horse racing as a valuable business for sports betting.

Flutter: Nurturing The Kentucky Derby, A Possible One Event Betting Phenomenon

FanDuel is reportedly preparing to switch its public listing to the U.S. markets. Shareholders in Flutter Entertainment, FanDuel's Ireland-based owner, have voted to move the online betting group's listing from London to the New York Stock Exchange, Bloomberg News reported Wednesday (May 1).

FanDuel Picks NY Over London for Primary Listing

Another high-profile UK technology business is to pack its bags and head for the US after gaming giant Flutter shareholders approved a shift of primary listing to New York. A resounding 98% of owners voted for the move with the Flutter likely to complete the journey across the Atlantic by the end of the month.

Flutter shareholders vote overwhelmingly to shift listing to US

Flutter Entertainment to Report First Quarter 2024 Financial Results and Host a Conference Call on May 14, 2024 DUBLIN, IRELAND AND TORONTO, ON / ACCESSWIRE / April 23, 2024 / Flutter Entertainment plc ("Flutter") (LSE:FLTR)(NYSE:FLUT), the leading online sports betting and iGaming operator, today announced that it will release its first quarter 2024 financial results on Tuesday, May 14, 2024 at 7:00 a.m. BST (2:00 a.m.

Flutter Entertainment PLC Announces Notice of Q1 Results

As an official partner of Churchill Downs Inc., FanDuel will bring fans unparalleled access all Derby Week with unique betting options, live FanDuel TV coverage and exclusive events NEW YORK , April 22, 2024 /PRNewswire/ -- FanDuel, North America's premier online gaming company, and the only sportsbook app where fans can place a bet on the Kentucky Derby, is sprinting out of the starting gate to help make the 150th "Run for the Roses" the most memorable yet. Through a combination of offers, activations, and industry-leading coverage, FanDuel will provide fans with unparalleled access for the race, on the ground and beyond.

CELEBRATE THE 150TH KENTUCKY DERBY WITH FANDUEL, THE ONLY SPORTSBOOK APP WHERE YOU CAN BET ON THE RACE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO Flutter announces the pricing of $525 million aggregate principal amount of 6.375% Senior Secured Notes due 2029 and €500 million aggregate principal amount of 5.000% Senior Secured Notes due 2029 DUBLIN, IRELAND and TORONTO, ON / ACCESSWIRE / April 17, 2024 / Flutter Entertainment plc ("Flutter") (LSE:FLTR)(NYSE:FLUT), today announced the pricing of an offering (the "Offering") of $525 million aggregate principal amount of USD-denominated 6.375% senior secured notes due 2029 (the "USD Notes") and €500 million aggregate principal amount of EUR-denominated 5.000% senior secured notes due 2029 (the "EUR Notes" and, together with the USD Notes, the "Notes"), each issued at 100% of their nominal value, by its subsidiary Flutter Treasury DAC (the "Issuer"). An application will be made for the Notes to be admitted to trading on The International Stock Exchange Authority Limited.

Flutter Entertainment PLC Announces Pricing of Senior Secured Notes

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO Flutter announces launch of offering of $1,050 million equivalent aggregate principal amount of Senior Secured Notes due 2029 DUBLIN, IRELAND and TORONTO, ON / ACCESSWIRE / April 16, 2024 / Flutter Entertainment plc ("Flutter") (LSE:FLTR)(NYSE:FLUT), today announced the launch of an offering (the "Offering") of $1,050 million equivalent aggregate principal amount of USD-denominated senior secured notes due 2029 (the "USD Notes") and EUR-denominated senior secured notes due 2029 (the "EUR Notes" and, together with the USD Notes, the "Notes") by its subsidiary Flutter Treasury DAC (the "Issuer"). An application will be made for the Notes to be admitted to trading on The International Stock Exchange Authority Limited.

Flutter Entertainment PLC Announces Launch of Offering of Senior Secured Notes

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Rolls-Royce, Glencore and Tesco were highlighted among several “whatever the weather” winners that are seen as enjoying multi-year sustainable advantages over rivals and upside to their shares, according to investment bank Jefferies. Drawing insights across all sector analysts, a list was drawn up of over European stocks that “can generate superior risk-adjusted returns”, with an average 19% upside in 12-month targets and 48% upside in long-view upside cases.

Rolls-Royce, ASML, Flutter, Beazley tipped among 'whatever weather winners'

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Most states have now legalized sports betting to some degree, But the industry is far from having reached its eventual potential size. Helping drive the industry's growth is the tax revenue that the states receive.

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FanDuel says Iowa-LSU game was its biggest betting event of all time for women's sports

Flutter's transition to trading on the NYSE has increased its penetration into the US investor pools. FLUT, the largest international online sports betting platform, is expected to benefit from its scale against peers. The growth of Fan Duel in the US has been a major driver of FLUT's success, and the company is projected to turn profitable this year.

Flutter Entertainment: It's All About Scale In The Sports Betting Sector

Flutter Entertainment PLC (LSE:FLTR) is well positioned to address the likes of higher taxes, potential clampdowns on VIP schemes and prospective bans on college betting, analysts have said. Responding to media reports that each were being called for, Jefferies argued “Flutter sits in a relatively better position to address [these]”.

Flutter well positioned against US clampdowns - analysts

In the midst of March Madness, the NCAA is pushing for states with legal wagering on sporting events to ban prop bets on college athletes.

DraftKings, Flutter shares fall as NCAA pushes states to ban prop bets on college athletes

Online gaming is in focus this morning after seven of the largest U.S. based names in that space came together to form ROGA – the Responsible Online Gaming Association. Which of the seven U.S.

U.S. sportsbooks come together on responsible gaming

DUBLIN, IRELAND and TORONTO, ON / ACCESSWIRE / March 26, 2024 / Further to its Full Year 2023 Financial Results Announcement issued on Tuesday, 19 March 2024, Flutter Entertainment plc (the "Company") announces that its Annual Report on Form 10-K for the financial year ended 31 December 2023 (the "Annual Report on Form 10-K") has been published and filed with the U.S. Securities and Exchange Commission (the "SEC") today. In connection with its reporting obligations under the Listing Rules of the UK Financial Conduct Authority, the Company has also prepared a UK annual report, incorporating the Annual Report on Form 10-K (the "Annual Report and Accounts 2023").

Flutter Entertainment PLC Announces Publication of Annual Report and Accounts 2023

Flutter Entertainment plc (FLUT) Q4 2023 Earnings Call Transcript

Paddy Power and FanDuel owner Flutter Entertainment PLC (LSE:FLTR)'s annual results proved one thing- the group's decision to list in the US was less of a risky gamble and more of a sure bet. Flutter listed its shares on the New York Stock Exchange on 29 January, concurrently confirming a primary listing switcheroo while keeping a secondary listing on the London Stock Exchange.

Flutter results prove US the right horse to bet on

Gambling giant Flutter Entertainment on Tuesday posted a 25% surge in its revenue – driven by the fast-paced growth of its U.S. subsidiary FanDuel – while also reporting a widening of its overall losses after a series of multi-million-dollar impairment charges hit its bottom line.

Flutter Entertainment posts 25% surge in sales as bet on FanDuel pays off

Paddy Power owner Flutter Entertainment PLC (LSE:FLTR) saw global revenues grow by 24.6% year-on-year to $11.79 billion (£9.3 billion) in 2023, although net losses widened to $1.21 billion from $370 million in the previous year. This net loss was primarily due to significant non-cash charges, including a $725 million impairment on the PokerStars trademark.

Paddy Power owner Flutter hails positive US earnings

Flutter Entertainment forecast earnings growth of 30% in 2024, after strong growth in its U.S. operations last year, with revenue rising 41%.

Flutter Predicts Earnings Jump on U.S. Growth

DUBLIN, IRELAND & TORONTO, ON / ACCESSWIRE / March 26, 2024 / Flutter Entertainment (LSE:FLTR)(NYSE:FLUT), the world's leading online sports betting and iGaming operator, today announced results for fiscal year ended December 31, 2023. Guidance for fiscal year ending 31 December 2024 introduced, with Group revenue growth of 17.5% at the midpoint.

Flutter Announces Fiscal Year 2023 Earnings

Entain PLC

US investment bank Jefferies' latest insights into the US online gambling sector highlighted a record-breaking February for US iGaming revenues and significant growth in online sports betting (OSB). According to Jefferies, the US iGaming market set a new record with gross gaming revenue (GGR) reaching $649 million, marking a 31% increase year-over-year.

Online gambling's record February: Flutter and Entain come up trumps

Flutter Entertainment to Report Full Year 2023 Financial Results and Host a Conference Call on March 26, 2024 DUBLIN, IRELAND and TORONTO, ON / ACCESSWIRE / March 19, 2024 / Flutter Entertainment plc ("Flutter") (LSE:FLTR)(NYSE:FLUT)(TSX:TSGI), the leading online sports betting and iGaming operator, today announced that it will release full year 2023 financial results on Tuesday, March 26, 2024 at 7:00 a.m. GMT (3:00 a.m.

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