Flutter SPAC Presentation Deck
Potential for US to generate significant EBITDA for Flutter
2021 US states TAM¹ at maturity almost equivalent to
...2020 forecast EBITDA from
these core markets >$1bn
Flutter core markets today...
Online gross gaming revenue (GGR)
$2.5bn
2018
Gaming
Flutter
$3.6bn
2019
Sports
$7.0bn
2020
c.$9.1bn
IDFS/Racing
2.6
5.6
0.9
2021
%
pop.
(11⁹
33%
c.$9.5bn
UK&I
2.4
7.1
2019
2
Australia
FanDuel TAM continues to grow:
Sportsbook expected to be available to
33% of US population in 2021; 11% for
gaming
Every +5% of population adds c.$850m
to sports betting TAM; c.$1.3bn to
gaming TAM
UK&I and Australia comparison:
31% online market share in core
markets3
—
Expected to generate EBITDA of >$1bn
in 2020
- US population >3x core markets
-
Scope for US market size to be a multiple of core markets
1 Total addressable market. Based on Eilers and Krejcik & Flutter estimates. Assumes FanDuel online sportsbook live in 14 states in 2021; Colorado, Indiana, Iowa, Illinois, Louisiana, Maryland,
Massachusetts, Michigan (MI), New Jersey (NJ), Ohio, Pennsylvania (PA), Tennessee, Virginia and West Virginia (WV). Assumes FanDuel live in 4 states in 2021 for online gaming: NJ, PA, MI, WV.
2 Regulus and Flutter internal estimates of online sportsbook and gaming market size in 2019. 6
3 2019 estimate.View entire presentation