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Flutter Entertainment plc is the world’s largest online sports betting and iGaming operator by revenue. The company operates a diverse portfolio of leading recreational brands, offering products such as sportsbook, iGaming, and other related services. With operations spanning over 100 countries, Flutter provides both online and retail betting experiences to millions of customers globally.
- U.S. Segment - Offers sports betting, iGaming (casino), daily fantasy sports (DFS), and horse racing wagering through brands like FanDuel and TVG.
- UK & Ireland Segment - Provides sports betting (sportsbook and exchange), iGaming (casino, poker, bingo), and retail betting shops under brands such as Sky Betting & Gaming, Paddy Power, Betfair, and tombola.
- International Segment - Delivers sports betting, iGaming (casino, poker, rummy, lottery), and other services through brands like Sisal, PokerStars, Betfair International, Adjarabet, and Junglee Games.
- Australia Segment - Focuses on online sports betting via the Sportsbet brand.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Paul Edgecliffe-Johnson ExecutiveBoard | Chief Financial Officer and Executive Director | None | Appointed as CFO in March 2023, Paul has extensive financial and operational experience, with expertise in equity and debt fundraisings. | |
Peter Jackson ExecutiveBoard | Chief Executive Officer and Executive Director | Non-Executive Director at Deliveroo plc | Peter Jackson has been the CEO of Flutter since January 2018, with extensive experience in leading consumer businesses and expertise in technology and digital sectors. | |
Amy Howe Executive | CEO of United States Division | None | Amy Howe has been CEO of the US division since July 2021, previously serving as President of FanDuel. | |
Barni Evans Executive | CEO of Australia Division | None | Barni Evans has been CEO of the Australia division since March 2018, with a focus on driving Sportsbet's culture and strategies. | |
Conor Lynch Executive | Group Chief Information Officer | Board Member at GiftsDirect.com, Dublin Innovation Advisory Council, External Examiner at Technology University Dublin | Conor Lynch has been the Group CIO since March 2023, focusing on enhancing Flutter's global technology strategy. | |
Daniel Taylor Executive | CEO of International Division | None | Daniel Taylor has been CEO of the International division since July 2020, responsible for brands like PokerStars and Betfair (non-UK). | |
Ian Brown Executive | CEO of UK & Ireland Division | None | Ian Brown has been CEO of the UK&I division since September 2022, overseeing brands like Sky Betting & Gaming and Paddy Power. | |
Lisa Sewell Executive | Chief People Officer | None | Lisa Sewell became the Group Chief People Officer in March 2024, previously serving as Chief People & Operations Officer of the UKI division. | |
Phil Bishop Executive | Group Chief Operating Officer | None | Phil Bishop became COO in March 2024, previously serving as Chief People Officer, leading Flutter's global people strategy. | |
Alfred F. Hurley, Jr. Board | Non-Executive Director | Director roles at New Mountain Finance Corporation, Ligado Networks, TSI Holdings, Inc. | Alfred joined Flutter in May 2020, bringing expertise in financial services and governance. | |
Atif Rafiq Board | Non-Executive Director | Board Member at Clearcover Insurance, Mister Car Wash, Inc. | Atif Rafiq has been a Non-Executive Director since December 2021, with experience in digital and consumer businesses. | |
Carolan Lennon Board | Non-Executive Director | Country Lead for Salesforce Ireland | Carolan joined as a Non-Executive Director in July 2022, with a background in telecoms and technology. | |
Christine M. McCarthy Board | Non-Executive Director | Director at The Procter & Gamble Company, FM Global | Christine joined as a Non-Executive Director in July 2024, with extensive experience in corporate finance. | |
David Lazzarato Board | Non-Executive Director | Board Member at Canopy Growth Corporation, Thunderbird Entertainment Group Inc. | David has been a Non-Executive Director since May 2020, with experience in financial and operational roles. | |
Holly Keller Koeppel Board | Senior Independent Director | Non-Executive Director at British American Tobacco plc, AES Corporation, Arch Resources, Inc. | Appointed in May 2021, Holly brings international experience in consumer goods and energy sectors. | |
John Bryant Board | Chair | Non-Executive Director at Compass Group Plc, Ball Corporation, Coca-Cola Europacific Partners | John Bryant became Chair of Flutter in September 2023, with extensive experience in consumer goods and financial leadership. | |
Nancy Cruickshank Board | Non-Executive Director | Chair of Go City, Non-Executive Director at Oodle Car Finance, Allegro.EU SA | Nancy has been a Non-Executive Director since May 2019, known for her digital and entrepreneurial expertise. | |
Nancy Dubuc Board | Non-Executive Director | Non-Executive Director at Warner Music Group Corp. | Nancy Dubuc joined as a Non-Executive Director in April 2021, with a background in media and digital industries. | |
Richard Flint Board | Non-Executive Director | Chairman of SeatUnique, Non-Executive Director at LBG Media plc | Richard Flint has been a Non-Executive Director since May 2020, with a history of leadership at Sky Betting & Gaming. | |
Robert R. Bennett Board | Non-Executive Director | Managing Director of Hilltop Investments, LLC, Director at HP Inc., Liberty Media Corporation | Robert joined as a Non-Executive Director in July 2024, with a background in media and investment management. |
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Given the recent tax increase in Illinois and the possibility of other states implementing similar measures, how does Flutter plan to mitigate the impact on profitability, and are you considering strategies such as adjusting customer generosity or marketing spend to offset these headwinds?
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With rumors of potential media tie-ins and acquisitions, can you elaborate on your M&A strategy, specifically how you evaluate opportunities in the U.S. versus international markets like Brazil, and how high are you willing to leverage the balance sheet to pursue attractive deals?
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As competitors ramp up investment in iCasino and introduce refreshed products in the sports betting space, what initiatives does Flutter have in place to maintain and enhance your product advantage, particularly heading into the new NFL season?
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The Australian market has faced regulatory challenges and a softer racing environment resulting in revenue declines. Can you provide more detail on how you're navigating these headwinds and what gives you confidence that underlying trends have stabilized?
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With the shift to bringing your U.S. iGaming technology stack in-house, can you discuss the expected impact on gross margins and how this transition enhances your competitive positioning in the market?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
NSX Group | 2024 | Flutter Entertainment acquired an initial 56% stake for approximately $350 million in cash and will combine its Betfair Brazil business with NSX, with a put/call mechanism to buy the remaining stake in years five and ten, positioning Flutter to lead in Brazil’s fast-growing, soon-to-be-regulated market. |
MaxBet | 2024 | Flutter secured a 51% controlling stake in MaxBet for $144 million (with options to acquire the remaining 49% in 2029 using an EBITDA-based formula), strategically expanding its footprint in Serbia and the Balkans while leveraging strong retail and online capabilities to generate synergies. |
Snaitech S.p.A (Snai) | 2024 | Flutter acquired 100% of Snai for €2.3 billion on a cash-free, debt-free basis, complementing its Italian portfolio to achieve a ~30% online market share and targeting at least €70 million in operating cost synergies over three years, with the deal funded via a €2.5 billion senior secured term loan. |
Junglee Games | 2023 | Flutter increased its stake in Junglee Games to 84.8% by acquiring an additional 32.5% for £75 million, with the option exercised in June and the acquisition completed in July 2023, thereby consolidating its control over the business. |