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    Ed Young

    Research Analyst at Morgan Stanley

    Ed Young is an Executive Director and Senior Equity Research Analyst at Morgan Stanley, specializing in U.K. banks and diversified financials coverage. He has analyzed major institutions such as HSBC, Barclays, Lloyds, and Standard Chartered, and has been recognized for his accurate market calls, holding a consistent position among top analysts as ranked by TipRanks with a success rate near 70% and strong average annualized returns. Young began his career in equity research in the mid-2000s, spending several years at UBS before joining Morgan Stanley as Vice President and advancement to Executive Director. He holds multiple professional credentials including FCA authorization and is registered with the Financial Industry Regulatory Authority (FINRA), maintaining licenses such as the Series 7 and Series 63.

    Ed Young's questions to Flutter Entertainment (FLUT) leadership

    Ed Young's questions to Flutter Entertainment (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.

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