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    James Clark • Barclays

    James Clark's questions to Flutter Entertainment PLC (FLUT) leadership

    James Clark's questions to Flutter Entertainment PLC (FLUT) leadership • Q1 2024

    Question

    James Clark asked for clarification on what moving the operational headquarters to New York means in terms of cost and structure. He also questioned the reason for the slowdown in year-over-year U.S. AMP growth from 34% in Q4 to 15% in Q1.

    Answer

    CEO Peter Jackson clarified that the New York operational HQ move involves more board and executive presence there but will not have a significant cost impact. CFO Paul Edgecliffe-Johnson explained the AMP growth slowdown was due to the tough comparison against the full-quarter impact of the Ohio launch in Q1 of the prior year, while Q1 2024 only included a partial period for North Carolina.

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    James Clark's questions to Flutter Entertainment PLC (FLUT) leadership • Q1 2024

    Question

    James Clark from Barclays asked for clarification on the practical implications of moving the operational headquarters to New York and questioned the reason for the sequential slowdown in the year-over-year growth rate of U.S. Average Monthly Players (AMPs).

    Answer

    CEO Peter Jackson explained that moving the operational HQ to New York involves holding board meetings and having more executive presence there but will not have a significant cost impact. CFO Paul Edgecliffe-Johnson attributed the AMP growth rate slowdown to the tough comparison against the full first quarter of the Ohio launch in the prior year, while the current quarter only included a few weeks of the North Carolina launch.

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