Flutter Entertainment plc announces launch of third tranche of share repurchase program DUBLIN and TORONTO and NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment plc (“Flutter”) (NYSE:FLUT; LSE:FLTR), the world's leading online sports betting and iGaming operator, announces that it has entered into non-discretionary arrangements with Davy Securities Unlimited Company to repurchase ordinary shares on Flutter’s behalf for an aggregate maximum consideration of up to $225 million on the New York S ...

Flutter Entertainment (FLUT) Q1 2025 Earnings Call May 07, 2025 04:30 PM ET Company Participants Paul Tymms - Group Director - IR & FPAPeter Jackson - CEORob Coldrake - Chief Financial OfficerJed Kelly - Managing Director - Equity ResearchBen Shelley - DirectorClark Lampen - Managing DirectorMonique Pollard - Director - Equity ResearchBarry Jonas - Managing DirectorJohn Decree - Director - Equity ResearchAdrien de Saint Hilaire - DirectorRobin Farley - Managing Director Conference Call Participants Ed Young ...

Core Insights - Flutter Entertainment reported strong Q1 2025 financial results, with a year-over-year net income growth of 289% and adjusted EBITDA growth of 20% [7][40][34] - The company continues to expand its US operations, achieving a 15% growth in sportsbook revenue and a 32% growth in iGaming revenue despite adverse sports outcomes during March Madness [34][12] - Flutter's international segment also showed resilience, with a 1% revenue growth year-over-year, driven by strong performances in Southern Europe and Africa [22][35] Financial Performance - Q1 2025 adjusted EBITDA reached $161 million, significantly higher than the previous year, reflecting strong operating leverage [34] - Total revenue for the quarter was reported at $3.67 billion, with the US segment contributing $1.9 billion and the international segment contributing $2 billion [58][35] - The company expects 2025 revenue and adjusted EBITDA to reach $17.08 billion and $3.18 billion, representing year-over-year growth of 22% and 35% respectively [44][48] US Market Update - Flutter maintains a leading position in the US market with a 43% market share in sports betting and a 27% share in iGaming [12][34] - The average monthly players (AMPs) grew by 11% to over 4.3 million, indicating strong customer engagement [12] - Innovative features such as "Your Way" pricing capability and "Bet back tokens" have been launched to enhance customer experience and engagement [14][15] International Market Update - The acquisition of Snai in Italy is expected to enhance Flutter's scale in the European market, with integration already underway [23][11] - The Southern Europe & Africa (SEA) region reported a 14% revenue increase year-over-year, driven by strong market share growth [37][22] - The Central and Eastern Europe (CEE) region also showed robust growth, with a 15% revenue increase year-over-year [29] Strategic Outlook - Flutter's long-term growth strategy focuses on sustainable business practices and responsible gaming, with a commitment to invest in both organic growth and M&A opportunities [8][30] - The company is optimistic about navigating the evolving US regulatory landscape and expanding its market presence [20][21] - Flutter's diversified portfolio of brands positions it well to capitalize on the growing global online sports betting and iGaming market, projected to be worth approximately $368 billion by 2030 [8][57]

Flutter Entertainment Reports First Quarter 2025 Financial ResultsDUBLIN and TORONTO and NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment (NYSE:FLUT; LSE:FLTR), the world's leading online sports betting and iGaming operator, announces Q1 results, and updates 2025 guidance. A letter to shareholders has also been published on the Group's website at www.flutter.com/investors Key financial highlights: In $ millions except where stated otherwiseThree months ended March 31,20252024YOY Average m ...

Financial Data and Key Metrics Changes - The company's first quarter revenue was $262 million, representing a 21% year-over-year increase, while adjusted EBITDA was $33.2 million, nearly double compared to the same period last year [8][22]. - Gross profit margins increased by 125 basis points year-over-year to 34.9%, driven by revenue diversification and higher growth in more profitable markets [24]. - Marketing spend was $38.8 million, or 15% of revenue, down from 17% of revenue in the same quarter last year, indicating improved marketing efficiency [25][26]. Business Line Data and Key Metrics Changes - Online casino revenue grew by 25% year-over-year, while sports betting revenue increased by 11% [9][22]. - In North America, monthly active users (MAUs) grew by 17% year-over-year, with an average revenue per monthly active user (ARPMAU) of $368, up 3% year-over-year [10][22]. - Latin America saw MAUs increase by 61% year-over-year, reaching a new quarterly record of 354,000 [10][23]. Market Data and Key Metrics Changes - North American markets showed revenue growth in 15 out of 16 online markets, with Michigan revenue up 40% and Delaware exceeding 80% growth in its first year of comparisons [12]. - In Colombia, gross gaming revenue (GGR) was up 55% in local currency, despite a 19% value-added tax on player deposits [13][14]. - The company is optimistic about the potential growth in Alberta, Canada, as legislation for online gaming progresses [17]. Company Strategy and Development Direction - The company focuses on innovation and enhancing player experience to drive growth and profitability [8][20]. - The strategy includes differentiating offerings to improve user engagement and retention across product verticals [10][20]. - The company is monitoring legislative developments in various U.S. states to capitalize on potential online gaming opportunities [18][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges, including the impact of taxes in Colombia, while maintaining strong player activity and market share [14][32]. - The company anticipates continued growth in revenue and adjusted EBITDA for 2025, with guidance remaining between $1.1 billion and $1.8 billion in revenue [27][28]. - Management highlighted the resilience of the online gaming sector, particularly during challenging economic times, and the potential for increased tax revenues from legalized online casinos [19][20]. Other Important Information - The company ended the quarter with $228 million in unrestricted cash and no debt, generating approximately $25 million in cash during the quarter [26]. - The company repurchased approximately 500,000 shares at an average price of $10.35 under its share repurchase program [27]. Q&A Session Summary Question: Insights on Colombia's competitive landscape and market share - Management indicated that they are absorbing the tax through higher bonusing, similar to competitors, and are confident in retaining or growing market share despite the challenges [32]. Question: Growth expectations for Delaware in 2025 - Management expects continued growth in Delaware, although the growth rate may slow as the market matures [34][36]. Question: Adjustments to business model in Colombia - Management is continuously adjusting strategies to maximize net revenue and reduce deposit turnover in response to the VAT tax [42][44]. Question: Impact of Pennsylvania joining the multistate Internet gaming agreement - Management expressed excitement about the launch in Pennsylvania and the potential for increased player liquidity across platforms [46]. Question: Tax impact from Colombia on revenue and EBITDA - Management noted that the VAT tax has significantly impacted net revenue growth, with expectations for meaningful growth once the tax is removed [52][94]. Question: User growth concentration in North America - Management indicated that Delaware contributed mid-single digits to the overall 17% user growth, with most growth coming from higher-value markets [87][88].

Financial Data and Key Metrics Changes - The company's first quarter revenue was $262 million, representing a 21% year-over-year increase, while adjusted EBITDA was $33.2 million, nearly double compared to the same period last year [6][21]. - Gross profit margins increased by 125 basis points year-over-year to 34.9%, driven by revenue diversification and higher growth in more profitable markets [23]. - Marketing spend was $38.8 million, or 15% of revenue, down from 17% in the previous year, indicating improved marketing efficiency [24]. Business Line Data and Key Metrics Changes - Online casino revenue grew by 25% year-over-year, while sports betting revenue increased by 11% [6][21]. - In North America, monthly active users (MAUs) grew by 17% year-over-year, with an average revenue per monthly active user (ARPMAU) of $368, up 3% year-over-year [21]. - In Latin America, MAUs increased by 61% year-over-year, reaching a new quarterly record of 354,000 [22]. Market Data and Key Metrics Changes - North American markets saw revenue growth in 15 out of 16 online markets, with Michigan revenue up 40% and Delaware exceeding 80% growth [11][12]. - In Colombia, gross gaming revenue (GGR) was up 55% in local currency, despite a temporary 19% VAT on player deposits [12][13]. - The company anticipates that the Colombian VAT tax will impact net revenue but expects significant upside if the tax is removed [27][52]. Company Strategy and Development Direction - The company focuses on innovation and enhancing player experience to attract and retain high-value players [6][8]. - The iGaming Alberta Act is progressing, which could open new opportunities for online gaming in Alberta, transitioning from a monopoly to a regulated market [15]. - The company is well-positioned in the online casino and sports betting space, emphasizing the importance of legalizing online casinos for state revenue generation [16][17]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges, including the impact of the VAT tax in Colombia, while maintaining strong player activity and market share [12][42]. - The company remains optimistic about growth opportunities in existing markets and potential expansion into new international markets [76][78]. - Management reiterated full-year revenue guidance of $1.1 billion to $1.8 billion, with adjusted EBITDA expected between $115 million and $135 million, reflecting a 35% year-over-year increase [27][28]. Other Important Information - The company ended the quarter with $228 million in unrestricted cash and no debt, generating approximately $25 million in cash during the quarter [25][26]. - The company repurchased approximately 500,000 shares at an average price of $10.35 under its share repurchase program [27]. Q&A Session Summary Question: Insights on Colombia's competitive landscape and market share - Management confirmed that they are bonusing at higher rates to offset the VAT tax, similar to competitors, and expressed confidence in retaining or growing market share despite the challenges [31][32]. Question: Growth expectations for Delaware in 2025 - Management expects continued growth in Delaware, although growth rates may slow as the market matures, with potential for significant future revenue growth [35][36]. Question: Adjustments to business model in Colombia - Management is continuously adjusting strategies to maximize net revenue in Colombia, including reducing marketing spend and monitoring competitor actions [40][41]. Question: Impact of Pennsylvania joining the multistate Internet gaming agreement - Management expressed excitement about the launch in Pennsylvania and the potential for increased player liquidity across platforms [44][45]. Question: Marketing leverage in a competitive environment - Management attributed marketing leverage to a focus on customer experience and differentiation, allowing the company to maintain a reasonable customer acquisition cost [58][60]. Question: Guidance for revenue growth in 2025 - Management indicated that revenue growth may decelerate in Q2 and Q3 compared to Q1, with Q4 expected to be the strongest quarter of the year [62][63]. Question: Tax impact from Colombia on EBITDA - Management noted that the VAT tax has significantly impacted net revenue, but GGR growth remains strong, indicating potential for future revenue growth once the tax is removed [93][95].

NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment (NYSE: FLUT; LSE: FLTR) (“Flutter”) the world’s leading online sports betting and iGaming operator today announces that it has completed the acquisition of Snaitech S.p.A. (“Snai”), one of Italy’s leading omni-channel operators from a subsidiary of Playtech plc, for cash consideration based on an enterprise value of €2.3b1. The acquisition of Snai, which will be positioned within the Southern Europe & Africa region of our International divis ...

Core Viewpoint - Flutter Entertainment is set to release its first quarter 2025 financial results on May 7, 2025, after market close, highlighting its ongoing commitment to transparency and investor engagement [1]. Group 1: Financial Results Announcement - Flutter will announce its Q1 2025 financial results on May 7, 2025, at 4:05 p.m. EDT [1]. - The earnings release and supplementary materials will be accessible through the "Investors" section of the Flutter website [1]. Group 2: Conference Call Details - A conference call will be held on May 7, 2025, at 4:30 p.m. EDT to discuss the financial results and answer questions [2]. - Access to the conference call will be available via webcast and telephone, with a replay provided approximately one hour after the call [2]. Group 3: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, with a strong presence in various global markets, including the US [3]. - The company aims to leverage its scale and innovative mindset to drive long-term growth while promoting sustainability through its Positive Impact Plan [3]. - Flutter operates a diverse portfolio of brands, including FanDuel, PokerStars, and Paddy Power, among others [4].

Core Insights - Meridianbet, a leading global sports betting and iGaming operator, has achieved significant ESG milestones in 2024, focusing on community engagement, technology-driven operations, and resource efficiency [1][2][4] - The company reported $151.1 million in FY24 GAAP revenue and $159.7 million in organic revenue, driven by its core operations [2] ESG Highlights - Meridianbet executed nearly 300 CSR actions across 25 markets, focusing on healthcare, education, sports development, and local institution support [6] - The company maintains a strong governance structure with over 60% of managerial positions held by women, reflecting its commitment to diversity [6] - Meridianbet's public uplisting as part of Golden Matrix Group's NASDAQ structure enhances transparency and investor access [4] Community Engagement - The company has partnered with Crvena Zvezda, integrating its logo with the elite Euroleague basketball club [6] - Initiatives include a global book donation campaign and the "Scan. Help." campaign to fund essential equipment for maternity hospitals [6] - The rollout of the Meridian Donate platform across LATAM and Africa allows users to support verified NGOs directly [6] Operational Efficiency - Energy usage has been reduced through digitalization and infrastructure upgrades [6] - Meridianbet is a member of the "5% Club," developing and maintaining its entire technology stack in-house [6]