Flutter Investor Day Presentation Deck
...with Flutter US expected to be profitable in 2023¹
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Loss making in the US today
Contribution from
existing sportsbook
and casino base
+
DFS/TVG
June 2020
customer base
New customer
investment
+
75% of total customer base acquired in LTM
=> Significant investment within period
Flutter
other opex
LTM June 2021
new customers
Pathway to profitability in 2023
Contribution from
existing sportsbook
and casino base
+
DFS/TVG
Indicative
December 2022
customer base
New customer
investment
+
other opex
New customers in
2023 will
represent smaller
% of total base
Indicative
2023 new
customers
●
Anticipate significant
further customer
acquisition over next 18
months
9 states expected to go
live in that time
• Customer base by end of
2022 will therefore be
considerably bigger again
• Relative scale of Dec 2022
base will likely dwarf new
player acquisition in 2023
• This should result in US
business turning EBITDA
positive
¹ 2023 profit projection is based on current expectations of timing of future state openings. Should California, Florida or Texas launch online sports betting or gaming
before 2024, the level of investment in new player acquisition will be higher and profitability could therefore be delayed. Also assumes no major one-off costs in 2023.
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