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    Benjamin Shelley • UBS

    Benjamin Shelley's questions to Flutter Entertainment PLC (FLUT) leadership

    Benjamin Shelley's questions to Flutter Entertainment PLC (FLUT) leadership • Q1 2024

    Question

    Benjamin Shelley asked for color on U.S. customer acquisition cost (CAC) trends during the quarter and inquired about the potential for state tax increases and how Flutter might offset them.

    Answer

    CEO Peter Jackson noted they were very pleased with the efficiency of customer acquisition and have not seen any change in the long-term payback trends. CFO Paul Edgecliffe-Johnson commented on taxes, stating that a healthy gaming environment with appropriate tax levels optimizes state revenue, and mentioned ongoing conversations in Illinois with no new updates.

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    Benjamin Shelley's questions to Flutter Entertainment PLC (FLUT) leadership • Q1 2024

    Question

    Ben Shelley from UBS asked for color on U.S. customer acquisition cost (CAC) trends during the quarter and sought management's view on the potential for contagion risk of gaming tax increases across U.S. states.

    Answer

    CEO Peter Jackson reported that the company was very pleased with the efficiency of customer acquisitions in the quarter, with no significant change in payback period trends. CFO Paul Edgecliffe-Johnson commented on taxes, stating that states recognize a healthy gaming environment requires a reasonable tax level to optimize their take, and noted there was no new news on the situation in Illinois.

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