Flutter Entertainment PLC Flutter capital markets event (6269G)
16 Noviembre 2022 - 10:30AM
UK Regulatory
TIDMFLTR
RNS Number : 6269G
Flutter Entertainment PLC
16 November 2022
16 November 2022
Flutter capital markets event showcasing FanDuel
Number one US sports betting and iGaming business
Flutter, t he world's leading sports betting and iGaming
business, is today hosting an event for investors and analysts at
25 Cipriani, Broadway, New York showcasing its US business,
FanDuel. The event will also be streamed virtually.
FanDuel is the number one operator in the US today with a 42%
share of the US online sports betting market and a 18% share of the
US iGaming market. This leading position is underpinned by a range
of sustainable competitive advantages, alongside access to unique
benefits enabled by the Flutter Group. The FanDuel Advantages
coupled with the Flutter Edge have produced a winning position of
unparalleled scale which ensures that FanDuel:
1. Acquires customers more efficiently
2. Retains customers for longer; and
3. Grows customer value more effectively
Excellent operational execution is driving significant momentum
for our FanDuel flywheel, creating a virtuous circle where our
scale advantage continues to compound and ensures we maintain our
economic advantages and our clear number one position.
We are confident in a path to a 2030 total addressable market of
more than $40bn in gross gaming revenue which represents growth of
4.5 times the size of the market today. By continuing to leverage
the FanDuel Advantages and Flutter Edge, this would imply a
significant runway of future revenue growth for FanDuel. With
mature EBITDA margins expected to be equivalent to those in
existing Flutter divisions of 25-30%, this growth potential would
imply significant levels of long-term profitability, transforming
the Flutter Group.
Peter Jackson, Chief Executive, commented:
"The US market represents the single biggest opportunity in our
sector today and we are proud to own FanDuel, the premier asset
within this market. The business has transformed the Flutter Group,
performing better than we could have hoped and growing tenfold
since PASPA was repealed in 2018.
FanDuel's success demonstrates the importance of global scale
combined with local leadership and expertise. A clear strategy
focused on the customer has delivered the number one position that
FanDuel enjoys today and will continue to ensure FanDuel is the
long-term market winner. Today we will demonstrate the superior
business model underpinning FanDuel's success, which has ensured
that our US division is on course to deliver profitability for the
full year 2023. The superior economics that FanDuel enjoys as the
market leader, represents an enormous value creation opportunity
for the Group as our US business continues to grow.
Amy Howe and the leadership team have done a phenomenal job in
executing on FanDuel's strategy to date and we remain excited about
continuing FanDuel's success story."
Analyst briefing:
The event, including remote registration, can be accessed virtually
here . The presentation and live stream will commence at 2pm EST
(7pm GMT). Q&A participation will be limited to analysts attending
in-person. Registration for in-person participation is now closed.
Contacts:
Investor Relations:
Paul Tymms, Group Director of Investor
Relations and FP&A + 44 75 5715 5768
Ciara O'Mullane, Investor Relations + 353 87 947 7862
Liam Kealy, Investor Relations + 353 87 665 2014
Press:
Kate Delahunty, Corporate Communications + 44 78 1077 0165
Lindsay Dunford, Corporate Communications + 44 79 3197 2959
Rob Allen, Corporate Communications + 44 75 5444 1363
Billy Murphy, Drury Communications + 353 1 260 5000
James Murgatroyd, Finsbury + 44 20 7251 3801
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About Flutter Entertainment plc:
Flutter Entertainment plc (the "Group") is a global
sports-betting and gaming company reporting as four divisions:
-- US: includes FanDuel, TVG, Stardust, FOX Bet and PokerStars
brands, offering regulated real money and free-to-play sports
betting, online gaming, daily fantasy sports and online racing
wagering products to customers across various states in the US and
Canada.
-- UK & Ireland: includes the Sky Betting and Gaming, Paddy
Power, Betfair and Tombola brands offering a diverse range of
sportsbook, exchange and gaming services across the UK and Ireland,
along with over 600 Paddy Power betting shops.
-- Australia: the Sportsbet brand offers online sport betting
and is the Australian market leader.
-- International: includes PokerStars, Sisal, Adjarabet, Betfair
and Junglee operating in multiple jurisdictions around the world
offering a diverse range of sportsbook, exchange and gaming
services.
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END
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