Flutter Investor Presentation Deck
Flutter International
MaxBet acquisition provides access to fast growing Balkan region
Clear demonstration of international expansion strategy
Fully regulated €700m Serbian market¹
Retail presence critical in cash-led economies;
barriers for international operators
Market
MaxBet
positioning
Growth
opportunity
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Division overview
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High growth with 25% 5-year online CAGR to 2022
35% online penetration currently
Local hero brand: #2 operator with 20% online share
Highly effective team to deliver continued growth
Attractive valuation with path to 100% ownership
Regional presence provides further opportunity
Flutter Edge to drive further differentiation
112 months to 30 June 2023
2 All market related disclosures based on internal estimates
LTM net gaming revenue
€145m
LTM¹ revenue
20%
Serbian online
market share²
55555
MAXBET
Serbia
■ Bosnia & Herzegovina
■ Montenegro
■ North Macedonia
€32m
LTM¹ EBITDA
>400
Retail locations
F
II.
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