Does this change affect Flutter's reported consolidated financial results?

No. The filing states the recast financial information has no impact on previously reported consolidated financial statements for any period, does not represent a restatement, and has no impact on Group adjusted EBITDA or its reconciliation to net income (loss).

What are the new reportable segments?

Effective from the first quarter of 2025, Flutter reports two segments: U.S., which is unchanged from the previously reported U.S. segment and comprises the FanDuel brand, and Flutter International, which combines the previously reported UKI, Australia and International segments and excludes unallocated corporate overhead.

How large was the U.S. segment in 2024 on the recast basis?

The press release shows U.S. segment revenue of $5,798 million for the year ended December 31, 2024, split into sportsbook ($4,013 million), iGaming ($1,524 million) and other ($261 million), with total U.S. adjusted EBITDA of $507 million.

Which regions make up the Flutter International segment?

On the recast basis, 2024 International segment revenue of $8,250 million is broken down into UK & Ireland ($3,599 million), Southern Europe and Africa ($1,593 million), Asia Pacific ($1,547 million), Central and Eastern Europe ($531 million), Brazil ($69 million) and other regions ($911 million).

Where can investors find more detailed historical data?

The press release states that recast financial information including quarterly data for all periods from 2021 to 2024 is available on the Flutter website under the investor results reports and presentations section, in a document titled "Q4 KPI pack new segments." Additional KPIs such as average monthly players, handle and sportsbook net revenue margin are also available there.

FLUT 8-K: Regulation FD

01—Abstract

Summary

Summary of the 8-K filed March 24, 2025. Cited figures are marked; the original filing is the authoritative source.

Flutter Entertainment plc (NYSE: FLUT, LSE: FLTR) filed this Form 8-K on March 24, 2025 under Item 7.01 (Regulation FD Disclosure) to provide supplemental financial information following a change in its reportable segments.

As previously disclosed, the company has realigned its internal structure and moved from four reportable segments to two, effective from the first quarter of 2025: U.S., which is unchanged from the previously reported U.S. segment, and Flutter International, which combines the previously reported UKI, Australia and International segments and excludes unallocated corporate overhead. The accompanying press release (Exhibit 99.1), also dated March 24, 2025, presents recast 2024 financial information on the new segment basis. Per the release, U.S. segment revenue for the year ended December 31, 2024 was $5,798 million^a, comprising sportsbook ($4,013 million), iGaming ($1,524 million) and other ($261 million), with total U.S. adjusted EBITDA of $507 million.

International segment revenue was $8,250 million^b, with sportsbook of $3,816 million, iGaming of $4,130 million and other of $304 million, and total International adjusted EBITDA of $2,065 million. Total reportable segment revenue was $14,048 million.

The company states that the recast information is provided to aid comparability, has no impact on previously reported consolidated financial statements or group adjusted EBITDA, and does not represent a restatement of previously issued financial statements. Quarterly recast data for 2021 through 2024 is referenced as available on the company's investor website.

02—Key points

Key Highlights

Reportable segments reduced from four to two effective Q1 2025: U.S. (unchanged) and Flutter International (combining UKI, Australia and International).
Recast 2024 U.S. segment revenue of $5,798 million, including $4,013 million sportsbook and $1,524 million iGaming.
Recast 2024 Flutter International segment revenue of $8,250 million, including $3,816 million sportsbook and $4,130 million iGaming.
Total reportable segment revenue for 2024 of $14,048 million on the new basis.
Total adjusted EBITDA of $507 million for U.S. and $2,065 million for International for the year ended December 31, 2024.
International revenue by region for 2024 includes UK & Ireland at $3,599 million, Southern Europe and Africa at $1,593 million and Asia Pacific at $1,547 million.
The recast has no impact on previously reported consolidated financial statements, group adjusted EBITDA or net income reconciliation, and is not a restatement.

03—Questions

Frequently Asked Questions

Does this change affect Flutter's reported consolidated financial results?
No. The filing states the recast financial information has no impact on previously reported consolidated financial statements for any period, does not represent a restatement, and has no impact on Group adjusted EBITDA or its reconciliation to net income (loss).
What are the new reportable segments?
Effective from the first quarter of 2025, Flutter reports two segments: U.S., which is unchanged from the previously reported U.S. segment and comprises the FanDuel brand, and Flutter International, which combines the previously reported UKI, Australia and International segments and excludes unallocated corporate overhead.
How large was the U.S. segment in 2024 on the recast basis?
The press release shows U.S. segment revenue of $5,798 million for the year ended December 31, 2024, split into sportsbook ($4,013 million), iGaming ($1,524 million) and other ($261 million), with total U.S. adjusted EBITDA of $507 million.
Which regions make up the Flutter International segment?
On the recast basis, 2024 International segment revenue of $8,250 million is broken down into UK & Ireland ($3,599 million), Southern Europe and Africa ($1,593 million), Asia Pacific ($1,547 million), Central and Eastern Europe ($531 million), Brazil ($69 million) and other regions ($911 million).
Where can investors find more detailed historical data?
The press release states that recast financial information including quarterly data for all periods from 2021 to 2024 is available on the Flutter website under the investor results reports and presentations section, in a document titled "Q4 KPI pack new segments." Additional KPIs such as average monthly players, handle and sportsbook net revenue margin are also available there.

04—Continue

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