Ed Young's questions to Flutter Entertainment PLC (FLUT) leadership • Q2 2025
Question
Ed Young of Morgan Stanley asked about the drivers of U.S. marketing efficiency, which is already in the Investor Day range, and requested quantification of marketing spend reallocated to H2. He also inquired about Flutter's strategic position on prediction markets.
Answer
CEO Peter Jackson addressed prediction markets, noting Flutter's two decades of experience with the Betfair exchange provides a strong foundation for evaluating the opportunity. CFO Rob Coldrake explained that U.S. marketing leverage was driven by a maturing state profile and lapping the North Carolina launch, confirming £20-£25 million was phased into H2.