Flutter Entertainment PLC (NYSE:FLUT)
$ 274.71 3.19 (1.17%) Market Cap: 48.34 Bil Enterprise Value: 53.89 Bil PE Ratio: 0 PB Ratio: 4.93 GF Score: 88/100
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Half Year 2023 Flutter Entertainment PLC Earnings Call Transcript

Aug 09, 2023 / 08:30AM GMT
Release Date Price: $185.88 (-2.66%)
Operator

Good morning, and welcome to the Flutter Entertainment Plc 2023 Interim Results Call. (Operator Instructions) But first, I'd like to hand you over to Mr. Peter Jackson, CEO of Flutter. Please go ahead, sir.

Jeremy Peter Jackson
Flutter Entertainment plc - CEO & Executive Director

Good morning, everyone, and thank you for joining Paul Tims and I for this call this morning. As noted in the presentation, which hopefully you have all had a chance to watch. Paul Tim is standing in for Paul Edgecliffe-Johnson, who's out of the office this week due to a family medical emergency. Before we go to questions, I'd like to touch on a few items.

The first half marks a pivotal moment for Flutter. Our U.S. business is now structurally profitable with FanDuel delivering an H1 adjusted EBITDA of $100 million, including a Q2 EBITDA of $153 million. This has occurred 6 months earlier than we were forecasted when providing this guidance back in August 2021. And as outlined then, our U.S. customer base is now a sufficient scale to more than offset the cost of future

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