Flutter Entertainment (FLUT) Investor Day 2024 summary

Strategic Positioning and Growth Outlook

• Operating in a $370B global market, with a diversified portfolio of local hero brands and leading positions in key regulated markets, supported by the proprietary Flutter EDGE platform and federated model.

• Focuses on sustainable growth, consolidating leadership in the US, Italy, UK & Ireland, and Australia, while expanding in high-growth developing regions like India and Brazil.

• M&A strategy targets local leaders in both developed and developing markets, leveraging integration for cost and revenue synergies and rapid post-acquisition growth.

• Sustainability is embedded through the Positive Impact Plan, aiming for 75% of customers using responsible gambling tools by 2030 and net zero emissions by 2035.

• The federated operating model empowers local teams with autonomy, leveraging global scale and expertise for rapid, market-specific innovation.

Product, Technology, and Operational Excellence

• Proprietary technology and the Flutter EDGE platform enable rapid, market-specific product development and sharing of innovations across brands.

• Over 7,500 technologists drive innovation, managing over 1.35B bets in 2023 and enabling seamless, scalable operations.

• In-house pricing and risk management underpin sportsbook leadership, enabling competitive odds, innovative bet types, and superior margin performance.

• Market-leading generosity and personalized promotions, powered by AI and data science, drive customer engagement, retention, and sustainable revenue growth.

• Continuous innovation in product features, such as Same Game Parlays and personalized generosity tokens, enhances customer experience and differentiates offerings.

U.S. Market Leadership and Financial Trajectory

• FanDuel has grown to the #1 position in both sports betting and iGaming, surpassing 2025 targets early and achieving profitability with a 12% EBITDA margin in H1 2024.

• U.S. TAM estimate increased by 50% to $70B, with revenue guidance for FanDuel at $9.7B in 2027 and a 25% EBITDA margin.

• Efficient acquisition, superior product, world-class promotions, and best-in-class pricing drive sustained leadership and margin expansion.

• Responsible gaming is a core pillar, with advanced tools, data-driven interventions, and industry coalition leadership.

• Advocacy efforts focus on expanding legal markets and building a sustainable sector, with ongoing investment in public affairs and stakeholder education.