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    Simon Davies • Deutsche Bank AG

    Simon Davies's questions to Flutter Entertainment PLC (FLUT) leadership

    Simon Davies's questions to Flutter Entertainment PLC (FLUT) leadership • Q2 2024

    Question

    Simon Davies inquired about Flutter's positioning for the upcoming market launch in Brazil and whether M&A would be necessary to achieve scale there.

    Answer

    CEO Peter Jackson expressed excitement for the Brazilian market, where Flutter is already present with its Betfair and PokerStars brands. He stated that while the company aims for 'gold medal positions' and has achieved this organically in other markets, it also has a strong track record of using M&A to supercharge growth and will evaluate all options for Brazil.

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    Simon Davies's questions to Flutter Entertainment PLC (FLUT) leadership • Q2 2024

    Question

    Simon Davies inquired about Flutter's positioning in Brazil ahead of its expected launch and whether M&A would be necessary to achieve scale in the market.

    Answer

    CEO Peter Jackson said Flutter is 'reasonably well placed' with its Betfair and PokerStars brands but is ambitious and aims for a 'gold medal' position. He noted that while organic growth is possible, the company often uses M&A to apply the 'Flutter Edge' and supercharge businesses, indicating it is an option they will evaluate for Brazil.

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    Simon Davies's questions to Flutter Entertainment PLC (FLUT) leadership • Q1 2024

    Question

    Simon Davies asked for color on April trading, specifically if there were signs of U.S. consumers recycling their late-March winnings. He also inquired about the impact of the latest U.K. affordability guidance on the company's outlook.

    Answer

    CEO Peter Jackson stated they were happy with April trading and confident in the full-year outlook, acknowledging that some recycling of winnings is a rational expectation. CFO Paul Edgecliffe-Johnson said there is no change to the U.K. guidance of a £25M to £50M impact in H2 2024 and that the company is pleased to have more regulatory clarity.

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    Simon Davies's questions to Flutter Entertainment PLC (FLUT) leadership • Q1 2024

    Question

    Simon Davies from Deutsche Bank inquired about trading trends in April, specifically asking if there were signs of customer winnings from March being recycled, and asked if the recent clarity on UK affordability guidance changes the company's outlook.

    Answer

    CEO Peter Jackson stated that the company is happy with April trading and confident in the full-year outlook, acknowledging that some recycling of winnings is a rational expectation. CFO Paul Edgecliffe-Johnson confirmed there is no change to the previously guided £25-£50 million impact from UK regulatory changes and that the company welcomes the increased clarity.

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