{"id":848786,"date":"2025-05-07T18:37:44","date_gmt":"2025-05-07T22:37:44","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2025-financial-results\/"},"modified":"2025-05-07T18:37:44","modified_gmt":"2025-05-07T22:37:44","slug":"q1-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2025-financial-results\/","title":{"rendered":"Q1 2025 Financial Results"},"content":{"rendered":"<h2>\nFlutter Entertainment Reports First Quarter 2025 Financial Results<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">DUBLIN and TORONTO and NEW YORK, May  07, 2025  (GLOBE NEWSWIRE) &#8212; <em>Flutter Entertainment (NYSE:FLUT; LSE:FLTR), the world&#8217;s leading online sports betting and iGaming operator, announces Q1 results, and updates 2025 guidance. A letter to shareholders has also been published on the Group&#8217;s website at www.flutter.com\/investors<\/em><\/p>\n<p>\n        <strong>Key financial highlights:<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\n            <em>In $ millions except where stated otherwise<\/em><br \/>\n            \n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">2024<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">YOY<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;border-top: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Average monthly players (AMPs) (\u2018000s)<sup>1<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>14,880<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">13,722<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Revenue<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>3,665<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">3,397<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Net income (loss)<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>335<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">(177)<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+289%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Net income (loss) margin<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>9.1<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">(5.2)%<\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">+1,440bps<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Adjusted EBITDA<sup>2<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>616<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">514<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+20%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Adjusted EBITDA margin<sup>2<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>16.8<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">15.1%<\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">+170bps<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Earnings (loss) per share ($)<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>1.57<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">(1.10)<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+243%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Adjusted earnings per share ($)<sup>2<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>1.59<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">1.05<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+51%<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:57%;min-width:57%;border-left: solid black 1pt;vertical-align: top\">Net cash provided by operating activities<\/td>\n<td style=\"max-width:12%;min-width:12%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>188<\/strong>\n          <\/td>\n<td style=\"max-width:12%;min-width:12%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">337<\/td>\n<td style=\"max-width:18%;min-width:18%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">(44)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Free Cash Flow<sup>2<\/sup><\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>88<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">185<\/td>\n<td style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">(52)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Leverage ratio<sup>2<\/sup> (December 2024 2.2x)<\/td>\n<td style=\"text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>2.2x<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Q1 2025 overview<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:6pt;text-align:justify\">Continued Group earnings transformation underpinned by 8% AMP and revenue growth. Rapid scaling of US business helped drive Group net income +289% and adjusted EBITDA +20%<\/li>\n<li style=\"margin-top:6pt;text-align:justify\">US: leadership position continues with revenue +18% including sportsbook +15% despite adverse March Madness sports results, and iGaming +32%. Adjusted EBITDA 5x higher to $161m from strong operating leverage<\/li>\n<li style=\"margin-top:6pt;text-align:justify\">International: revenue and adjusted EBITDA broadly in line with prior year (constant currency<sup>3<\/sup> revenue and EBITDA +3% and +2%, respectively) primarily driven by strong revenue growth in Southern Europe and Africa (SEA), Central and Eastern Europe (CEE), and UK and Ireland (UKI) iGaming, offsetting Asia Pacific (APAC) sportsbook<\/li>\n<li style=\"margin-top:6pt;text-align:justify\">Earnings per share increased by $2.67, driven by Group earnings transformation and positive swing in Fox option liability<sup>4<\/sup> year-over-year, with adjusted earnings per share +51%<\/li>\n<li style=\"margin-top:6pt;text-align:justify\">Net cash provided by operating activities and free cash flow declined (net cash from operating activities -44%, free cash flow -52%) reflecting timing of quarter-end on player deposit liabilities year-over-year, which offset increase in cash generated through growth of the business\n<\/li>\n<\/ul>\n<p>\n        <strong>Full year 2025 guidance highlights (see further detail included on page 5)<\/strong>\n      <\/p>\n<p align=\"justify\">Underlying trends overall have been in line with expectations and our 2025 outlook<sup>5<\/sup> is therefore only updated to reflect (i) the impact since our Q4 earnings of US sports results<sup>6<\/sup> and foreign currency movements<sup>7<\/sup>, and (ii) the anticipated contributions from Snai, completed on April 30, 2025, and NSX, expected to complete during May<sup>8<\/sup>. Together these acquisitions are expected to add $1.07bn in revenue and $120m in adjusted EBITDA to the Group&#8217;s 2025 results.<\/p>\n<p align=\"justify\">Group revenue and adjusted EBITDA are now expected to be $17.08bn and $3.18bn at the midpoint representing 22% and 35% year-over-year growth, respectively (14% and 30% before including the benefit of Snai and NSX).<\/p>\n<p align=\"justify\">\n        <em>Peter Jackson, CEO, commented: <\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>&#8220;I am pleased with the performance of the business during the first quarter, with the scaling of our US business driving a step change in the earnings profile of the Group. <\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>FanDuel continues to win in the US, retaining leadership positions in both online sports betting and iGaming, while we saw a positive performance within International, where our scale and the competitive advantages of our Flutter Edge have been enhanced by the acquisition of Snai in Italy.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>We are delivering against our strategic priorities, with clear optionality as an \u2018and\u2019 business that can create significant value through a combination of organic growth, accretive M&amp;A, and returns to shareholders. The global regulated market opportunity is significant, and Flutter remains uniquely positioned to win.&#8221;<\/em>\n      <\/p>\n<p>Q1 2025 review<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: justify;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>In $ millions except percentages<\/em><br \/>\n            \n          <\/td>\n<td colspan=\"12\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong><br \/>\n            <sup><br \/>\n              <strong>2<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YOY<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YOY CC<\/strong><br \/>\n            <sup><br \/>\n              <strong>3<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YOY<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YOY CC<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:36%;width:36%;min-width:36%;border-top: solid black 1pt;border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;border-right: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">US<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>1,666<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">1,410<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+18%<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+18%<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>161<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">26<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>+519<\/em><br \/>\n            <em>%<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+496%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">International<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>1,999<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">1,987<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+1%<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+3%<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>518<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">524<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>(1<\/em><br \/>\n            <em>)%<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Unallocated corporate overhead<sup>9<\/sup><\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>(63<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">(36)<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>+75<\/em><br \/>\n            <em>%<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+90%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Group<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>3,665<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">3,397<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+8%<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+10%<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>616<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">514<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+20%<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">+23%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>The Group delivered a strong start to the year with AMP<sup>1<\/sup> and revenue growth of 8%.<\/p>\n<p align=\"justify\">Net income of $335m compared to a net loss of $177m in Q1 2024, after non-cash impacts of (i) a gain in the fair value of the Fox Option liability<sup>4<\/sup> of $205m (Q1 2024 $184m loss) and (ii) a charge relating to the amortization of acquired intangibles of $158m (Q1 2024: $172m).<\/p>\n<p align=\"justify\">Adjusted EBITDA of $616m grew 20% with adjusted EBITDA margin<sup>2<\/sup> 170bps higher primarily driven by the expansion of our US business.<\/p>\n<p align=\"justify\">Earnings per share improved by $2.67 driven by the earnings transformation of the Group and the positive swing in the Fox option liability year-over-year with adjusted earnings per share growing 51%.<\/p>\n<p align=\"justify\">The Group\u2019s net cash provided by operating activities and free cash flow<sup>2<\/sup> decreased 44% and 52% respectively in Q1 2025. This was due to a swing in player deposit liabilities year-over-year arising as a result of the final day in Q1 2025 closing on a weekday, compared to closing during the weekend, when customers typically hold a greater amount of funds in their wallets, during Q1 2024. This more than offset the expansion of adjusted EBITDA within the Group.<\/p>\n<p align=\"justify\">\n        <strong>US<\/strong> performance continued to reflect our strong US leadership position, with sports betting and iGaming GGR market shares of 43% and 27% in the quarter, and a 48% NGR sports betting share<sup>10<\/sup>.<\/p>\n<p align=\"justify\">Q1 revenue grew 18% driven by AMP<sup>1<\/sup> growth of 11% with sportsbook revenue up 15% and iGaming revenue up 32%.<\/p>\n<p align=\"justify\">The increase in sportsbook revenue was driven by handle growth of 8% (pre-2024 states<sup>11<\/sup> online handle +5%) and a net revenue margin increase of 50 basis points to 7.8%. Handle growth was in line with expectations with lower than expected basketball handle, offset by stronger growth on other sports. The increase in net revenue margin included:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Structural revenue margin +70bps to 14.1% driven by our market-leading pricing and risk-management capabilities delivering an increase in Same Game parlay penetration of 260bps across NFL and NBA<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Adverse sports results year-over-year of 70 basis points (GGR $285m, revenue $230m) (Q1 2025: 200bps unfavorable, Q1 2024: 130bps unfavorable)<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">A year-over-year improvement in promotional spend of 50 basis points to 4.4% of handle as we lapped the impact of state launch investment in North Carolina in the prior year\n<\/li>\n<\/ul>\n<p align=\"justify\">iGaming revenue grew 32% driven by AMPs growth of 28% and underpinned by our continued focus on US direct casino customers.<\/p>\n<p align=\"justify\">Adjusted EBITDA was $161m (Q1 2024 $26m) with an adjusted EBITDA margin of 9.7%, up +790bps year-over-year. This reflected the sustained operating leverage progress we continue to see in our business. Cost of sales as a percentage of revenue of 57.4% was 170bps lower year-over-year primarily reflecting the impact of increased North Carolina generosity investment in the prior year. Sales and marketing expenses also continued to deliver operating leverage and reduced by 750bps year-over-year as a percentage of revenue to 22.4%.<\/p>\n<p align=\"justify\">\n        <strong>International<\/strong> revenue was 1% higher year-over-year (up 3% on a constant currency<sup>3<\/sup> basis), underpinned by good AMP growth of 8%.<\/p>\n<p align=\"justify\">Sportsbook revenue was 2% lower (flat constant currency) reflecting 6% lower handle which was partially offset by a net revenue margin expansion of 50bps to 12.7%. Handle growth primarily reflected the increased mix of higher-revenue margin, lower-handle parlay products, and horse racing market trends in UKI and Australia. The net revenue margin expansion included:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Structural revenue margin improvement of 110bps to 16.9% driven by continued growth in Same Game Parlay products<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Adverse year-over-year sports results of 10bps comprising favorable results year-over-year in SEA and UKI, and unfavorable results in APAC (Q1 2025: 20bps favorable, Q1 2024 30bps favorable)<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Promotional spend increased by 50bps to 4.4% of handle with reinvestment of favorable UKI sports results partially offset by the benefit of increasingly sophisticated generosity application in APAC\n<\/li>\n<\/ul>\n<p align=\"justify\">iGaming growth of 4% year-over-year (up 7% on a constant currency basis) reflected AMP growth of 9%, driven by a strong performance in UKI and SEA.<\/p>\n<p align=\"justify\">Revenue performance across our International regions was as follows:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">UKI revenue grew 2%. Sportsbook revenue was down 2% with a product-driven increase in structural gross win margin offset by the impact of lower horse racing handle in-line with market trends. iGaming grew 9% year-over-year driven by the roll out of premium and bespoke games<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">SEA revenue grew 14% from SEA AMP growth of 25% to 1.8m in the quarter. SEA sportsbook revenue growth of 27% reflected good underlying momentum combined with favorable sports results. iGaming revenue benefited from improved content to grow by 8%. SEA Italian revenue of $378m<sup>12 <\/sup>was up 9% (sportsbook: $155m +27%, and iGaming: $222m in line year-over-year) with Turkey revenue growing 57% (or 84% in constant currency), driven by AMP growth<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">APAC revenue was 13% lower (8% on a constant currency basis) as strong iGaming growth in India of 45% was offset by 18% lower sportsbook revenues in Australia, where unfavorable sports results compounded the previously highlighted horse racing market softness<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Central and Eastern Europe (CEE) revenue grew 15% primarily driven by strong performances in Georgia and Serbia<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Brazil revenue was 44% lower (36% on a constant currency basis) reflecting the transitory impact of customer re-registration friction in the newly regulated market<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Other regions revenue was 12% lower driven by the impact of market exits and regulatory change<\/li>\n<\/ul>\n<p align=\"justify\">Adjusted EBITDA reduced 1% (2% increase on a constant currency basis). Adjusted EBITDA margin was 50bps lower at 25.9%. This reflects cost of sales 60bps higher as a percentage of revenue year-over-year driven primarily by tax increases in CEE.<\/p>\n<p align=\"justify\">\n        <strong>Unallocated corporate overhead<\/strong><br \/>\n        <sup>6<\/sup> increased by 75% year-over-year primarily due to a one-off $18m credit in the prior year relating to the settlement of historic litigation and a $6m incremental investment in Flutter Edge, revenue-driving initiatives in the current year.<\/p>\n<p align=\"justify\">\n        <strong>Capital structure<\/strong>\n      <\/p>\n<p align=\"justify\">Available cash remained unchanged quarter-on-quarter at approximately $1.5bn. The $88m increase in total debt to $6,824m at March 31, 2025 from $6,736m at December 31, 2024 was a function of prevailing foreign exchange rates on our Euro and Sterling denominated debt. Net debt was $5,329m at the end of Q1 2025, with a leverage ratio<sup>2<\/sup> of 2.2x based on the last 12 months adjusted EBITDA (2.2x at December 31, 2024). As per our announcement on April 30, 2025, the acquisition of Snai was completed using existing debt facilities at attractive terms. We therefore expect our leverage to increase in the near term but then reduce rapidly given the highly visible and profitable growth opportunities that exist across the Group. We remain committed to our medium-term leverage ratio target of 2.0-2.5x.<\/p>\n<p align=\"justify\">The share repurchase program, which commenced in November 2024 with up to $5bn expected to be returned to shareholders over the coming years, continued into 2025 with 891 thousand shares repurchased in the quarter for a consideration of $230m (of which $226m was paid in the quarter). We expect to return up to approximately $1bn of cash to shareholders via the program during 2025.<\/p>\n<p align=\"justify\">\n        <strong>Guidance<\/strong>\n      <\/p>\n<p align=\"justify\">Underlying trends overall have been in line with expectations and our 2025 outlook<sup>5<\/sup> is therefore only updated to reflect (i) the impact since our Q4 earnings of US sports results<sup>6<\/sup> and foreign currency movements<sup>7<\/sup>, and (ii) the anticipated contributions from Snai, completed on April 30, 2025, and NSX, expected to complete during May<sup>8<\/sup>. Together these acquisitions are expected to add $1.07bn in revenue and $120m in adjusted EBITDA to the Group&#8217;s 2025 results.<\/p>\n<p align=\"justify\">The changes to the midpoints of our previous guidance are summarized in the table below:<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>US<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>International<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Corporate<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Ex-US<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Group<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:28%;width:28%;min-width:28%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions)<\/em>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">US existing states<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">7,720<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">1,400<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">US new states<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(40)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(90)<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Previous Guidance<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>7,680<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,310<\/strong>\n          <\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>8,250<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2,080<\/strong>\n          <\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(230<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>8,250<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,850<\/strong>\n          <\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>15,930<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>3,160<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">US sports results<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(280)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(180)<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(280)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(180)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Foreign currency<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">360<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">100<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(20)<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">360<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">80<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">360<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">80<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Snai acquisition<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">850<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">190<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">850<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">190<\/td>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">850<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">190<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">NSX acquisition<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">220<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(70)<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">220<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(70)<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">220<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(70)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Change <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(280<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(180<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,430<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>220<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(20<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,430<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>200<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,150<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>20<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revised Guidance<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>7,400<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,130<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>9,680<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2,300<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(250<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>9,680<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2,050<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>17,080<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>3,180<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">US existing states<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">7,440<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">1,220<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>Our updated outlook for 2025 now includes the following midpoints:<\/p>\n<p align=\"justify\">\n        <strong>Group: <\/strong>revenue and adjusted EBITDA of $17.08bn and $3.18bn representing 22% and 35% year-over-year growth, respectively (14% and 30% before including the benefit of Snai and NSX)<\/p>\n<p align=\"justify\">\n        <strong>US<\/strong>: revenue and adjusted EBITDA of $7.40bn and $1.13bn, representing year-over-year growth of 28% and 123%, respectively, and comprising:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">Existing state revenue of $7.44bn and adjusted EBITDA of $1.22bn. This represents year-over-year growth of 28% and 141%, respectively, which on a normalized basis remains unchanged from our investor day guidance of 22.5% revenue growth and 5.4 percentage points of adjusted EBITDA margin expansion<\/li>\n<li style=\"margin-top:6pt;margin-bottom:6pt;text-align:justify\">New state and territory launches with negative revenue of $40m and adjusted EBITDA cost of $90m based on a Q4 launch for Missouri and an early 2026 launch for Alberta, Canada (unchanged since Q4 earnings)<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>International<\/strong>: revenue and adjusted EBITDA of $9.68bn and $2.30bn representing year-over-year growth of 17% and 11%, respectively.<\/p>\n<p align=\"justify\">\n        <strong>Unallocated corporate overhead:<\/strong> cost increased to $250m to include impact of foreign currency headwinds of $20m since previous guidance was issued.<\/p>\n<p align=\"justify\">\n        <strong>Other items:<\/strong> are also updated to reflect the impact of acquisitions and changes in foreign currency. Details of the changes to other items, together with our various guidance ranges are set out in the table below.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Updated 2025 guidance<\/strong><br \/>\n            <sup>5<\/sup>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Previous<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Low<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">High<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Low<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">High<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Group revenue<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$16.63bn<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$17.53bn<\/td>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$15.48bn<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$16.38bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Group adjusted EBITDA<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.96bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$3.40bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.94bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$3.38bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">US existing state<sup>11<\/sup> revenue<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.19bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.69bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.47bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.97bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">US existing state adjusted EBITDA<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.10bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.34bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.28bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.52bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">US new states revenue cost<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">($40m)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">($40m)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">US new states adjusted EBITDA<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">($90m)<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">($90m)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">US total revenue<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.15bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.65bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.43bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$7.93bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">US total adjusted EBITDA<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.01bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.25bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.19bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.43bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">International organic revenue<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$8.41bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$8.81bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$8.05bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$8.45bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">International organic EBITDA<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.08bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.28bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.98bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.18bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">International new acquisitions<sup>8<\/sup> revenue<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.07bn<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Not applicable<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">International new acquisitions EBITDA<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$120m<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Not applicable<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">International total revenue<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$9.48bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$9.88bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$8.05bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$8.45bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">International total adjusted EBITDA<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.20bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.40bn<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$1.98bn<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$2.18bn<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Unallocated corporate overhead<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$250m<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$230m<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Interest expense, net<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$480m<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">$500m<\/td>\n<td style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$360m<\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$380m<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Depreciation and amortization excl. acquired intangibles<\/td>\n<td colspan=\"2\" style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Approximately $670m<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Approximately $580m<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: top\">Capital expenditure<sup>13<\/sup><\/td>\n<td colspan=\"2\" style=\"border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Approximately $820m<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Approximately $710m<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Share repurchases<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Unchanged<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Up to $1bn<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>Guidance is provided (i) on the basis that sports results are in line with our expected margin for the remainder of the year, (ii) at current foreign exchange rates and (iii) on the basis of a consistent regulatory and tax framework except where otherwise stated.<\/p>\n<p align=\"justify\">A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared of items that have not yet occurred, are out of our control, or cannot be reasonably predicted.<\/p>\n<p align=\"justify\">\n        <strong>Conference call:<\/strong>\n      <\/p>\n<p align=\"justify\">Flutter management will host a conference call today at 4:30 p.m. ET (9:30 p.m. BST) to review the results and be available for questions, with access via webcast and telephone.<\/p>\n<p align=\"justify\">A public audio webcast of management\u2019s call and the related Q&amp;A can be accessed by registering <a href=\"https:\/\/events.q4inc.com\/attendee\/478080225\" rel=\"nofollow\" target=\"_blank\"><strong>here<\/strong><\/a> or via www.flutter.com\/investors. For those unable to listen to the live broadcast, a replay will be available approximately one hour after the conclusion of the call. This earnings release and supplementary materials will also be made available via www.flutter.com\/investors.<\/p>\n<p align=\"justify\">Analysts and investors who wish to participate in the live conference call must do so by dialing any of the numbers below and using conference ID 20251. Please dial in 10 minutes before the conference call begins.<\/p>\n<p>+1 888 500 3691 (North America)<\/p>\n<p>+44 800 358 0970 (United Kingdom)<\/p>\n<p>+353 1800 943926 (Ireland)<\/p>\n<p>+61 1800 519 630 (Australia)<\/p>\n<p>+1 646 307 1951 (International)<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. These statements include, but are not limited, to statements related to our expectations regarding the performance of our business, our financial results, our operations, our liquidity and capital resources, the conditions in our industry and our growth strategy. In some cases, you can identify these forward-looking statements by the use of words such as \u201coutlook\u201d, \u201cbelieve(s)\u201d, \u201dexpect(s)\u201d, \u201cpotential\u201d, \u201ccontinue(s)\u201d, \u201cmay\u201d, \u201cwill\u201d, \u201cshould\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cseek(s)\u201d, \u201cpredict(s)\u201d, \u201cintend(s)\u201d, \u201ctrends\u201d, \u201cplan(s)\u201d, \u201cestimate(s)\u201d, \u201canticipates\u201d, \u201cprojection\u201d, \u201cgoal\u201d, \u201ctarget\u201d, \u201caspire\u201d, \u201cwill likely result\u201d, and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Such factors include, among others: Flutter\u2019s ability to effectively compete in the global entertainment and gaming industries; Flutter\u2019s ability to retain existing customers and to successfully acquire new customers; Flutter\u2019s ability to develop new product offerings; Flutter\u2019s ability to successfully acquire and integrate new businesses; Flutter\u2019s ability to maintain relationships with third-parties; Flutter\u2019s ability to maintain its reputation; public sentiment towards online betting and iGaming generally; the potential impact of general economic conditions, including inflation, tariffs and\/or trade disputes fluctuating interest rates and instability in the banking system, on Flutter\u2019s liquidity, operations and personnel; Flutter\u2019s ability to obtain and maintain licenses with gaming authorities, adverse changes to the regulation (including taxation) of online betting and iGaming; the failure of additional jurisdictions to legalize and regulate online betting and iGaming; Flutter\u2019s ability to comply with complex, varied and evolving U.S. and international laws and regulations relating to its business; Flutter\u2019s ability to raise financing in the future; Flutter\u2019s success in retaining or recruiting officers, key employees or directors; litigation and the ability to adequately protect Flutter\u2019s intellectual property rights; the impact of data security breaches or cyber-attacks on Flutter\u2019s systems; and Flutter\u2019s ability to remediate material weaknesses in its internal control over financial reporting.<\/p>\n<p align=\"justify\">Additional factors that could cause the Company\u2019s results to differ materially from those described in the forward-looking statements can be found in Part I, \u201cItem 1A. Risk Factors\u201d of the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on March 4, 2025 and other periodic filings with the SEC, which are accessible on the SEC\u2019s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company\u2019s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.<\/p>\n<p align=\"justify\">\n        <strong>About Flutter Entertainment plc<\/strong>\n      <\/p>\n<p align=\"justify\">Flutter is the world\u2019s leading online sports betting and iGaming operator, with a market leading position in the US and across the world. Our ambition is to leverage our significant scale and our challenger mindset to change our industry for the better. By Changing the Game, we believe we can deliver long-term growth while promoting a positive, sustainable future for all our stakeholders. We are well-placed to do so through the distinctive, global competitive advantages of the Flutter Edge, which gives our brands access to group-wide benefits to stay ahead of the competition, as well as our clear vision for sustainability through our Positive Impact Plan.<\/p>\n<p align=\"justify\">Flutter operates a diverse portfolio of leading online sports betting and iGaming brands including FanDuel, Sky Betting &amp; Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, Snai, tombola, Betfair, MaxBet, Junglee Games and Adjarabet. We are the industry leader with $14,048m of revenue globally for fiscal 2024, up 19% YoY, and $3,665m of revenue globally for the quarter ended March\u00a031, 2025.<\/p>\n<p align=\"justify\">\n        <strong>Contacts:<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:50%;width:50%;min-width:50%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Investor Relations:<\/em>\n          <\/td>\n<td style=\"max-width:50%;width:50%;min-width:50%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Media Relations:<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">Paul Tymms, Investor Relations<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">Kate Delahunty, Corporate Communications<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">Ciara O&#8217;Mullane, Investor Relations<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">Lindsay Dunford, Corporate Communications<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">Chris Hancox, Investor Relations<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">Rob Allen, Corporate Communications<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Email<\/strong>: investor.relations@flutter.com<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Email: <\/strong>corporatecomms@flutter.com<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Notes<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:2%;width:2%;min-width:2%;vertical-align: top\">\u00a01.<\/td>\n<td style=\"max-width:98%;width:98%;min-width:98%;text-align: justify;vertical-align: middle;vertical-align: top\">Average Monthly Players (\u201cAMPs\u201d) is defined as the average over the applicable reporting period of the total number of players who have placed and\/or wagered a stake and\/or contributed to rake or tournament fees during the month. This measure does not include individuals who have only used new player or player retention incentives, and this measure is for online players only and excludes retail player activity. In circumstances where a player uses multiple product categories within one brand, we are generally able to identify that it is the same player who is using multiple product categories and therefore count this player as only one AMP at the Group level while also counting this player as one AMP for each separate product category that the player is using. As a result, the sum of the AMPs presented at the product category level is greater than the total AMPs presented at the Group level. See Part II, \u201cItem 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u2014Key Operational Metrics\u201d of Flutter\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 4, 2025 for additional information regarding how we calculate AMPs data, including a discussion regarding duplication of players that exists in such data.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a02.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Adjusted EBITDA, adjusted EBITDA margin, Free Cash Flow, net debt, leverage ratio, constant currency, adjusted net income attributable to Flutter shareholders and adjusted earnings per share are non-GAAP financial measures. See \u201cDefinitions of non-GAAP financial measures\u201d and \u201cReconciliations of Non-GAAP Financial Measures\u201d sections of this document for definitions of these measures and reconciliations to the most directly comparable financial measures calculated in accordance with GAAP. Due to rounding, these numbers may not add up precisely to the totals provided.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a03.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Constant currency growth rates are calculated by retranslating the non-US dollar denominated component of Q1 2024 at Q1 2025 exchange rates. See reconciliation on page 19.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a04.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Fox has an option to acquire an 18.6% equity interest in FanDuel (the Fox Option). Gains or losses in the fair value of the Fox Option primarily due to changes in the fair value of FanDuel during the reporting period are recorded in Other income (expense), net. The Fox Option impact per share is calculated as the Fox Option impact during the reporting period divided by the diluted weighted average number of shares for the equivalent period (pre-tax). See Part II, \u201cItem 8. Financial Statements and Supplementary Data\u2014Fair Value Measurements\u201d of Flutter\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 4, 2025 for additional information regarding The Fox Option.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a05.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such a reconciliation to be prepared of items that have not yet occurred, are out of our control, or cannot be reasonably predicted.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a06.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Year to date sports results impact is $280m in revenue and $180m in adjusted EBITDA. The Q1 impact was $230m revenue and $150m of adjusted EBITDA primarily arising in March. The April impact was $50m in revenue and $30m in adjusted EBITDA. Both impacts include an estimate for the benefit of recycling.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a07.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Foreign exchange rates assumed in year to go forecasts for 2025 guidance are per the prevailing rates on April 30 of USD:GBP of 0.746, USD:EUR of 0.878 and USD:AUD of 1.563.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a08.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">In the event either the acquisition of NSX does not complete or the completion is not within the stipulated timeline, by the end of May, guidance will be updated accordingly.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a09.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Unallocated corporate overhead includes shared technology, research and development, sales and marketing, and general and administrative expenses that are not allocated to a specific segment.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a010.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">US market position based on available market share data for states in which FanDuel is active. Online sportsbook market share is the gross gaming revenue (GGR) and net gaming revenue (NGR) market share of our FanDuel brand for the three months to March 31, 2025 in the states in which FanDuel was live (excluding Tennessee as they no longer report this data), based on published gaming regulator reports in those states. iGaming market share is the GGR market share of FanDuel for the three months to March 31, 2025 in the states in which FanDuel was live, based on published gaming regulator reports in those states. US iGaming GGR market share including PokerStars US (which is reported in the International segment) for the three months to March 31, 2025 was 27%.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a011.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">US analysis by state cohort includes the states and provinces by FanDuel launch date. Pre-2024, states include: New Jersey, Pennsylvania, West Virginia, Indiana, Colorado, Illinois, Iowa, Michigan, Tennessee, Virginia, Arizona, Connecticut, New York, Ontario, Louisiana, Wyoming, Kansas, Maryland, Ohio, Massachusetts, Kentucky.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a012.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">In addition to Q1 Italian revenues of $378m reported with in SEA (including sports $155m and iGaming $222m) there was also $27m Italian revenues in the quarter generated across tombola (reported in UKI) and Betfair (reported in Other regions).<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a013.<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top\">Capital expenditure is defined as payments for the purchase of property and equipment, the purchase of intangible assets and capitalized software.<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong><br \/>\n          <br \/>Definitions of non-GAAP financial measures<\/strong>\n      <\/p>\n<p align=\"justify\">This press release includes Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income Attributable to Flutter Shareholders, Adjusted Earnings Per Share (\u201cAdjusted EPS\u201d), leverage ratio, Net Debt, Free Cash Flow, and constant currency which are non-GAAP financial measures that we use to supplement our results presented in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d). These non-GAAP measures are presented solely as supplemental disclosures to reported GAAP measures because we believe that these non-GAAP measures are useful in evaluating our operating performance, similar to measures reported by its publicly-listed U.S. competitors, and regularly used by analysts, lenders, financial institutional and investors as measures of performance. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income Attributable to Flutter Shareholders, Adjusted EPS, leverage ratio, Net Debt, Free Cash Flow, and Adjusted Depreciation are not intended to be substitutes for any GAAP financial measures, and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.<\/p>\n<p align=\"justify\">\n        <strong>Constant currency<\/strong> reflects certain operating results on a constant-currency basis in order to facilitate period-to-period comparisons of our results without regard to the impact of fluctuating foreign currency exchange rates. The term foreign currency exchange rates refer to the exchange rates used to translate our operating results for all countries where the functional currency is not the U.S. Dollar, into U.S. Dollars. Because we are a global company, foreign currency exchange rates used for translation may have a significant effect on our reported results. In general, our financial results are affected positively by a weaker U.S. Dollar and are affected negatively by a stronger U.S. Dollar. References to operating results on a constant-currency basis mean operating results without the impact of foreign currency exchange rate fluctuations. We believe the disclosure of constant-currency results is helpful to investors because it facilitates period-to-period comparisons of our results by increasing the transparency of our underlying performance by excluding the impact of fluctuating foreign currency exchange rates. We calculate constant currency revenue, Adjusted EBITDA and Segment Adjusted EBITDA by translating prior-period revenue, Adjusted EBITDA and Segment Adjusted EBITDA, as applicable, using the average exchange rates from the current period rather than the actual average exchange rates in effect in the prior period.<\/p>\n<p align=\"justify\">\n        <strong>Adjusted EBITDA<\/strong> is defined on a Group basis as net income (loss) before income taxes; other income, net; interest expense, net; depreciation and amortization; transaction fees and associated costs; restructuring and integration costs; impairment of PPE and intangible assets and share based compensation expense.<\/p>\n<p align=\"justify\">\n        <strong>Adjusted EBITDA Margin<\/strong> is Adjusted EBITDA as a percentage of revenue, respectively.<\/p>\n<p align=\"justify\">\n        <strong>Adjusted Net Income Attributable to Flutter Shareholders<\/strong> is defined as net income (loss) as adjusted for after-tax effects of transaction fees and associated costs; restructuring and integration costs; gaming taxes dispute, amortization of acquired intangibles, accelerated amortization, loss (gain) on settlement of long-term debt; impairment of PPE and intangible assets; financing related fees not eligible for capitalization; gain from disposal of businesses, fair value (gain)\/loss on derivative instruments, fair value (gain)\/loss on contingent consideration, fair value (gain)\/loss on Fox Option Liability and fair value (gain)\/loss on investment, and share-based compensation.<\/p>\n<p align=\"justify\">\n        <strong>Adjusted EPS<\/strong> is calculated by dividing adjusted net income attributable to Flutter shareholders by the number of diluted weighted-average ordinary shares outstanding in the period.<\/p>\n<p align=\"justify\">Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted net income attributable to Flutter shareholders and Adjusted EPS are non-GAAP measures and should not be viewed as measures of overall operating performance, indicators of our performance, considered in isolation, or construed as alternatives to operating profit (loss), net income (loss) measures or earnings per share, or as alternatives to net cash provided by (used in) operating activities, as measures of liquidity, or as alternatives to any other measure determined in accordance with GAAP.<\/p>\n<p align=\"justify\">Management has historically used these measures when evaluating operating performance because we believe that they provide additional perspective on the financial performance of our core business.<\/p>\n<p align=\"justify\">Adjusted EBITDA has further limitations as an analytical tool. Some of these limitations are:<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:100%;width:100%;min-width:100%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">it does not reflect the Group\u2019s cash expenditures or future requirements for capital expenditure or contractual commitments;<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">it does not reflect changes in, or cash requirements for, the Group\u2019s working capital needs;<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">it does not reflect interest expense, or the cash requirements necessary to service interest or principal payments, on the Group\u2019s debt;<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">it does not reflect shared-based compensation expense which is primarily a non-cash charge that is part of our employee compensation;<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements;<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">it is not adjusted for all non-cash income or expense items that are reflected in the Group\u2019s statements of cash flows; and<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\n<ul type=\"disc\">\n<li style=\"margin-top:2.65pt;margin-bottom:1.5pt;text-align:justify\">the further adjustments made in calculating Adjusted EBITDA are those that management consider not to be representative of the underlying operations of the Group and therefore are subjective in nature.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong><br \/>\n          <br \/>Net debt<\/strong> is defined as total debt, excluding premiums, discounts, and deferred financing expense, and the effect of foreign exchange that is economically hedged as a result of our cross-currency interest rate swaps reflecting the net cash outflow on maturity less cash and cash equivalents.<\/p>\n<p align=\"justify\">\n        <strong>Leverage ratio<\/strong> is defined as net debt divided by last twelve months Adjusted EBITDA. We use this non-GAAP financial measure to evaluate our financial leverage. We present net debt to Adjusted EBITDA because we believe it is more representative of our financial position as it is reflective of our ability to cover our net debt obligations with results from our core operations, and is an indicator of our ability to obtain additional capital resources for our future cash needs. We believe net debt is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. The Leverage Ratio is not a substitute for, and should be used in conjunction with, GAAP financial ratios. Other companies may calculate leverage ratios differently.<\/p>\n<p align=\"justify\">\n        <strong>Free Cash Flow<\/strong> is defined as net cash provided by (used in) operating activities less payments for property and equipment, intangible assets and capitalized software. We believe that excluding these items from free cash flow better portrays our ability to generate cash, as such items are not indicative of our operating performance for the period. This non-GAAP measure may be useful to investors and other users of our financial statements as a supplemental measure of our cash performance, but should not be considered in isolation, as a measure of residual cash flow available for discretionary purposes, or as an alternative to operating cash flows presented in accordance with GAAP. Free Cash Flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. Our calculation of Free Cash Flow may differ from similarly titled measures used by other companies, limiting their usefulness as a comparative measure.<\/p>\n<p align=\"justify\">\n        <strong>Adjusted depreciation<\/strong> is defined as depreciation and amortization excluding amortization of acquired intangibles.<\/p>\n<p>\n        <strong>Condensed Consolidated Balance Sheets<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions except share and per share amounts)<\/em><br \/>\n            \n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>As of <\/strong><br \/>\n            <br \/>\n            <strong>March 31,<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>As of <\/strong><br \/>\n            <br \/>\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Current assets:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Cash and cash equivalents<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,537<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,531<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Cash and cash equivalents \u2013 restricted<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">54<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">48<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Player deposits \u2013 cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,802<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,930<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Player deposits \u2013 investments<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">127<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">130<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Accounts receivable, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">109<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">98<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Prepaid expenses and other current assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">612<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">607<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4,241<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4,344<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Investments<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">7<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Property and equipment, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">490<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">493<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Operating lease right-of-use assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">523<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">507<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Intangible assets, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5,456<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5,364<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Goodwill<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">13,736<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">13,352<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Deferred tax assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">241<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">267<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other non-current assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">131<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">175<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>24,825<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>24,508<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Liabilities, redeemable non-controlling interests and shareholders\u2019 equity<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Current liabilities:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">359<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">266<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Player deposit liability<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,832<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,940<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Operating lease liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">121<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">119<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Long-term debt due within one year<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">68<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">53<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other current liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,089<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,212<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total current liabilities:<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4,469<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4,590<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Operating lease liabilities \u2013 non-current<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">446<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">428<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Long-term debt<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6,756<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6,683<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Deferred tax liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">595<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">605<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other non-current liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">786<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">935<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>13,052<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>13,241<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Commitments and contingencies<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Redeemable non-controlling interests<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>1,737<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>1,808<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Shareholders\u2019 equity<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Ordinary share (Authorized 3,000,000,000 shares of \u20ac0.09 ($0.10) par value each; issued March\u00a031, 2025: 177,186,883 shares; December\u00a031, 2024: 177,895,367 shares)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">36<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">36<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Additional paid-in capital<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,670<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,611<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Accumulated other comprehensive loss<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,591<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,927<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Retained earnings<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">9,748<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">9,573<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total Flutter Shareholders\u2019 Equity<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>9,863<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>9,293<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Non-controlling interests<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">173<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">166<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total shareholders\u2019 equity<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>10,036<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>9,459<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total liabilities, redeemable non-controlling interests and shareholders\u2019 equity<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>24,825<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>24,508<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Condensed Consolidated Statements of Comprehensive Income (Loss)<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions except share and per share amounts)<\/em>\n          <\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,665<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,397<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Cost of Sales<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,956<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,793<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Gross profit<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>1,709<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>1,604<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Technology, research and development expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(215<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(190<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Sales and marketing expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(840<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(881<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">General and administrative expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(431<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(409<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Operating profit (loss)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>223<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>124<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other income (expense), net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">216<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(174<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Interest expense, net<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(85<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(112<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Income (loss) before income taxes<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>354<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(162<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Income tax expense<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(19<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(15<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net income (loss)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>335<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(177<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Net (loss) income attributable to non-controlling interests and redeemable non-controlling interests<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3<\/td>\n<td style=\"border-top: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4<\/td>\n<td style=\"border-top: double black 3pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Adjustment of redeemable non-controlling interest to redemption value<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">49<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">15<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Net income (loss) attributable to Flutter shareholders<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">283<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(196<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Earnings (loss) per share<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Basic<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1.59<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1.10<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Diluted<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1.57<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1.10<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Other comprehensive income (loss), net of tax:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Effective portion of changes in fair value of cash flow hedges<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(44<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">23<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Fair value of cash flow hedges transferred to the income statement<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">36<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(14<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Changes in excluded components of fair value hedge<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Foreign exchange loss on net investment hedges<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(14<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(21<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Foreign exchange gain (loss) on translation of the net assets of foreign currency denominated entities<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">369<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(185<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Fair value movements on available for sale debt instruments<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Other comprehensive income (loss)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>346<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(198<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other comprehensive income (loss) attributable to Flutter shareholders<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">336<\/td>\n<td style=\"border-top: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(188<\/td>\n<td style=\"border-top: double black 3pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other comprehensive income (loss) attributable to non-controlling interest and redeemable non-controlling interest<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">10<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(10<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total comprehensive income (loss) <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>681<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(375<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Condensed Consolidated Statements of Cash Flows <\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions)<\/em>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Cash flows from operating activities<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Net loss<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">335<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(177<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Adjustments to reconcile net loss to net cash from operating activities:<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Depreciation and amortization<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">294<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">297<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Change in fair value of derivatives<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(15<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Non-cash interest expense (income), net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">12<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Non-cash operating lease expense<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">43<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">32<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Unrealized foreign currency exchange (gain) loss, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(8<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">8<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Gain on disposals<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(3<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Share-based compensation \u2013 equity classified<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">56<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">40<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Share-based compensation \u2013 liability classified<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other income (expense), net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(205<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">186<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Deferred tax expense (benefit)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(48<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Change in operating assets and liabilities:<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Player deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">9<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Accounts receivable<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(9<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">19<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Prepaid expenses and other current assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">13<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">84<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(18<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(236<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(40<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Player deposit liability<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(147<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">73<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Operating leases liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(38<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(33<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net cash provided by operating activities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>188<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>337<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Cash flows from investing activities:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Purchases of property and equipment<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(19<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(22<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Purchases of intangible assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(33<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(57<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Capitalized software<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(48<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(73<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Acquisitions, net of cash acquired<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(107<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Proceeds from disposal of intangible assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Cash settlement of derivatives designated in net investment hedge<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other advances<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net cash used in investing activities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(100<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(259<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Cash flows from financing activities:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Proceeds from issue of ordinary share upon exercise of options<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">14<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Proceeds from issuance of long-term debt (net of transactions costs)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">639<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Repayment of long-term debt<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(10<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(834<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Distributions to non-controlling interests<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(4<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Payment of contingent consideration<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(16<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Repurchase of ordinary shares and taxes withheld and paid on employee share awards<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(244<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net cash used in financing activities <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(271<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(181<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net increase in cash, cash equivalents and restricted cash<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(183<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(103<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Cash, cash equivalents and restricted cash \u2013 Beginning of the period<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3,509<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3,271<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Foreign currency exchange gain (loss) on cash and cash equivalents<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">67<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(11<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Cash, cash equivalents and restricted cash \u2013 End of the period<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,393<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,157<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Cash, cash equivalents and restricted cash comprise of:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,537<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,353<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Cash and cash equivalents &#8211; restricted<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">54<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">22<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Player deposits &#8211; cash &amp; cash equivalents<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,802<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,782<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Cash, cash equivalents and restricted cash \u2013 End of the period<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,393<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,157<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Supplemental disclosures of cash flow information: <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Interest paid<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">91<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">123<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Income tax paid (net of refunds)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">21<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">29<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Operating cash flows from operating leases<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">38<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">38<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Non-cash investing and financing activities:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Purchase of intangible assets with accrued expense<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">91<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Right of use assets obtained in exchange for new operating lease liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">15<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">20<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Adjustments to lease balances as a result of remeasurement<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">25<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(2<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Business acquisitions (including contingent consideration)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">26<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Reconciliations of non-GAAP financial measures<\/strong>\n      <\/p>\n<p>\n        <strong>Adjusted EBITDA reconciliation<\/strong>\n      <\/p>\n<p align=\"justify\">See below a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to net income, the most comparable GAAP measure.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions)<\/em>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Net income (loss)<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">335<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(177<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Add back:<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Income taxes<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">19<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">15<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Other income (expense), net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(216<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">174<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Interest expense, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">85<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">112<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Depreciation and amortization<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">294<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">297<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Share-based compensation expense<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">57<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">41<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Transaction fees and associated costs <sup>1<\/sup><\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">29<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Restructuring and integration costs <sup>2<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">41<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">23<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Group Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>616<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>514<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Group Revenue<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,665<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,397<\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong><br \/>\n              <em>Group Adjusted EBITDA Margin<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong><br \/>\n              <em>16.8<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong><br \/>\n              <em>%<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong><br \/>\n              <em>15.1<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong><br \/>\n              <em>%<\/em><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">1. Fees primarily associated with (i) transaction costs related to Snaitech and NSX during the three months ended March\u00a031, 2025; and (ii) advisory fees related to implementation of internal controls, information system changes and other strategic advisory related to the change in the primary listing of the Group during the three months ended March\u00a031, 2024.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">2. During the three months ended March\u00a031, 2025, costs of $41 million (three months ended March\u00a031, 2024: $23 million) primarily relate to various restructuring and other strategic initiatives to drive synergies. The programs are expected to run until 2027. These actions include efforts to consolidate and integrate our technology infrastructure, back-office functions and relocate certain operations to lower cost locations. It also includes business process re-engineering cost, planning and design of target operating models for the Group&#8217;s enabling functions and discovery and planning related to the Group&#8217;s anticipated migration to a new enterprise resource planning system. The costs primarily include severance expenses, advisory fees and temporary staffing costs.<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Adjusted net income attributable to Flutter shareholders<\/strong>\n      <\/p>\n<p align=\"justify\">See below a reconciliation of Adjusted net income attributable to Flutter shareholders to net income\/ (loss), the most comparable GAAP measure.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions)<\/em>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net income (loss)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>335<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(177<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Less:<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Transaction fees and associated costs<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">29<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Restructuring and integration costs<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">41<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">23<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Amortization of acquired intangibles<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">158<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">172<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Share-based compensation<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">57<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">41<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Loss on settlement of long-term debt<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Financing related fees not eligible for capitalization<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Fair value (gain) \/ loss on derivative instruments<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(15<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Fair value (gain) \/ loss on contingent consideration<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Fair value (gain) \/ loss on Fox Option Liability<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(205<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">184<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Fair value (gain) \/ loss on Investment<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Tax impact of above adjustments<sup>1<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(50<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(51<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted net income<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>338<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>208<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Less:<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Net income attributable to non-controlling interests and redeemable non-controlling interests<sup>2<\/sup><\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Adjustment of redeemable non-controlling interest<sup>3<\/sup><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">49<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">15<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Adjusted net income attributable to Flutter shareholders<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>286<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>189<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Weighted average number of shares<\/strong>\n          <\/td>\n<td style=\"border-top: double black 3pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>180<\/strong>\n          <\/td>\n<td style=\"border-top: double black 3pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>178<\/strong>\n          <\/td>\n<td style=\"border-top: double black 3pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">1. Tax rates used in calculated adjusted net income attributable to Flutter shareholders is the statutory tax rate applicable to the geographies in which the adjustments were incurred.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">2. Represents net loss attributed to the non-controlling interest in Sisal and the redeemable non-controlling interest in FanDuel, MaxBet and Junglee.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">3. Represents the adjustment made to the carrying value of the redeemable non-controlling interests in Junglee and MaxBet to account for the higher of (i) the initial carrying amount adjusted for cumulative earnings allocations, or (ii) redemption value at each reporting date through retained earnings.<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Adjusted earnings per share reconciliation<\/strong>\n      <\/p>\n<p align=\"justify\">See below a reconciliation of adjusted earnings per share to diluted earnings per share, the most comparable GAAP measure.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;vertical-align: bottom\">\n            <em>$<\/em>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>Earnings \/ (loss) per share to Flutter shareholders<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.57<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1.10<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Add\/ (Less):<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Transaction fees and associated costs<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.01<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.16<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Restructuring and integration costs<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.23<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.13<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Amortization of acquired intangibles<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.88<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.96<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Share-based compensation<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.31<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.23<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Loss on settlement of long-term debt<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Financing related fees not eligible for capitalization<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.01<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Fair value (gain) \/ loss on derivative instruments<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.08<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Fair value (gain) \/ loss on contingent consideration<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Fair value (gain) \/ loss on Fox Option Liability<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.14<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1.02<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Fair value (gain) \/ loss on Investment<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.01<\/td>\n<td style=\"border-right: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">Tax impact of above adjustments<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.28<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.28<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;vertical-align: bottom\">\n            <strong>Adjusted earnings per share<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.59<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1.05<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Net debt reconciliation <\/strong>\n      <\/p>\n<p align=\"justify\">See below a reconciliation of net debt to long-term debt, the most comparable GAAP measure.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions)<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>As of <\/strong><br \/>\n            <br \/>\n            <strong>March 31,<\/strong><br \/>\n            <br \/>\n            <strong> 2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>As of <\/strong><br \/>\n            <br \/>\n            <strong>December 31,<\/strong><br \/>\n            <br \/>\n            <strong> 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Long-term debt<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6,756<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6,683<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Long-term debt due within one year<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">68<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">53<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total Debt<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>6,824<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>6,736<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Add:<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Transactions costs, premiums or discount included in the carrying value of debt<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">49<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">52<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Less:<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Unrealized foreign exchange on translation of foreign currency debt<sup> 1<\/sup><\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(7<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(97<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,537<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,531<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Net Debt<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>5,329<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>5,160<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\n<ol style=\"list-style-type:decimal\">\n<li style=\"margin-top:2.15pt;margin-bottom:1pt\">Representing the adjustment for foreign exchange that is economically hedged as a result of our cross-currency interest rate swaps to reflect the net cash outflow on maturity.<\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Free Cash Flow reconciliation <\/strong>\n      <\/p>\n<p align=\"justify\">See below a reconciliation of Free Cash Flow to net cash provided by operating activities, the most comparable GAAP measure.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:75%;width:75%;min-width:75%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ in millions)<\/em>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Net cash provided by operating activities<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">188<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">337<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Less cash impact of:<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Purchases of property and equipment<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(19<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(22<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Purchases of intangible assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(33<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(57<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Capitalized software<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(48<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(73<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Free Cash Flow<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>88<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>185<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Constant currency (\u2018CC&#8217;) growth rate reconciliation<\/strong>\n      <\/p>\n<p align=\"justify\">See below a reconciliation of constant currency growth rates to nominal currency growth rates, the most comparable GAAP measure.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ millions except percentages)<\/em>\n          <\/td>\n<td colspan=\"13\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Unaudited<\/em>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>YOY<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>YOY<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>FX impact<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>CC<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>CC<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:45%;width:45%;min-width:45%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">US<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,666<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,410<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+18<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,409<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+18<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">International<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,999<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,987<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+1<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(53<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,934<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+3<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Group<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,665<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,397<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>+8<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(55<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>3,342<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>+10<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">US<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">161<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">26<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+519<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">27<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+496<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">International<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">518<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">524<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(16<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">508<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+2<\/td>\n<td style=\"border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Unallocated corporate overhead<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(63<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(36<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+75<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(33<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">+90<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Group<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>616<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>514<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>+20<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>(12<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>502<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>+23<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>See below a reconciliation of other reported constant currency revenue growth rates to nominal currency growth rates.<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Unaudited<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:12%;width:12%;min-width:12%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>YoY<\/strong>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>YoY<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>YoY<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Nom<\/em>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>FX impact<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>CC<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:39%;min-width:39%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">International sportsbook<\/td>\n<td colspan=\"2\" style=\"max-width:13%;min-width:13%;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(2)%<\/td>\n<td style=\"max-width:24%;min-width:24%;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(2)%<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">International iGaming<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+4%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(3)%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+7%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Turkey<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+57%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(27)%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+84%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Reconciliation of supplementary non GAAP information: Adjusted depreciation and amortization <\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ millions)<\/em>\n          <\/td>\n<td colspan=\"7\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31, 2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31, 2024<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Unaudited<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>US<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Intl<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Corp<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>US<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Intl<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Corp<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:35%;width:35%;min-width:35%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Depreciation and Amortization<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">33<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">250<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">11<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">294<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">29<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">262<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:8%;width:8%;min-width:8%;border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">297<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-right: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Less: Amortization of acquired intangibles<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(4<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(154<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(158<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(4<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(168<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(172<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted depreciation and amortization<\/strong><br \/>\n            <sup><br \/>\n              <strong>1<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>29<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>96<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>11<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>136<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>25<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>94<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>6<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>125<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\n<ol style=\"list-style-type:decimal\">\n<li style=\"margin-top:2.15pt;margin-bottom:1pt\">Adjusted depreciation and amortization is defined as depreciation and amortization excluding amortization of acquired intangibles<\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Segment KPIs<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>($ millions except percentages)<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31, 2025<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"4\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>YOY<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:55%;width:55%;min-width:55%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Unaudited<\/em>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>US<\/strong>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Intl<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>US<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Intl<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:51%;min-width:51%;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Average monthly players (&#8216;000s)<\/strong>\n          <\/td>\n<td style=\"max-width:11%;min-width:11%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>4,312<\/strong>\n          <\/td>\n<td style=\"max-width:11%;min-width:11%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>10,568<\/strong>\n          <\/td>\n<td style=\"max-width:1%;min-width:1%;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+11<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:11%;min-width:11%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+8<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Sportsbook stakes<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">14,606<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">6,912<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+8%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(6)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Sportsbook net revenue margin<\/em>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <em>7.8<\/em><br \/>\n            <em>%<\/em>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <em>12.7<\/em><br \/>\n            <em>%<\/em>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <em>+50bps<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <em>+50bps<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Sportsbook revenue<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">1,134<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">880<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+15%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(2)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">iGaming revenue<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">472<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">1,050<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+32%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Other revenue<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">60<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">69<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(9)%<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(15)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Total revenue<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,666<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,999<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+18<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+1<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>161<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>518<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+519<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1<\/strong><br \/>\n            <strong>)%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <em>Adjusted EBITDA margin<\/em>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">9.7%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">25.9%<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <em>+790bps<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <em>(50)bps<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\n            <strong>Additional information: Segment operating expenses<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Cost of sales<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">956<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">880<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+15%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Technology, research and development expenses<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">82<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">95<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+49%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(4)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">Sales &amp; marketing expenses<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">374<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">309<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(11)%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(3)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">General and administrative expenses<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">93<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">197<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+26%<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+6%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-left: 0;padding-right: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>International revenue by region<\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>($ millions except percentages)<\/em>\n          <\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%;border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>Unaudited<\/em>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YoY<\/strong>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YoY<\/strong>\n          <\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>YoY<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>Nom<\/em>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>FX impact<\/em>\n          <\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <em>CC<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">UK and Ireland<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">882<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">861<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+2%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(1)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Southern Europe and Africa<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">448<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">394<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+14%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(5)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+19%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Asia Pacific<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">313<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">358<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(13)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(5)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(8)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Central and Eastern Europe<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">140<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">122<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+15%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(3)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">+18%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Brazil<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">9<\/td>\n<td style=\"text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">16<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(44)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(8)%<\/td>\n<td style=\"padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(36)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">Other regions<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">207<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">236<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(12)%<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(3)%<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">(9)%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>Total segment revenue<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>1,999<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\n            <strong>1,987<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+1%<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(2<\/strong><br \/>\n            <strong>)%<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>+3%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;padding-right: 0;padding-left: 0;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <br \/>This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact\u00a0<a href=\"mailto:rns@lseg.com\" rel=\"nofollow\" target=\"_blank\">rns@lseg.com<\/a>\u00a0or visit\u00a0<a href=\"http:\/\/www.rns.com\/\" rel=\"nofollow\" target=\"_blank\">www.rns.com<\/a>.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ0NjgzNCM2OTI4MDY3IzUwMDEzMTg3Mg==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZmQ4OWM2NjQtMjUyNC00ZWZlLWI5ZWMtOTZlOGM0ZWM4Zjg5LTUwMDEzMTg3Mi0yMDI1LTA1LTA3LWVu\/tiny\/Flutter-Entertainment-PLC.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Flutter Entertainment Reports First Quarter 2025 Financial Results DUBLIN and TORONTO and NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) &#8212; Flutter Entertainment (NYSE:FLUT; LSE:FLTR), the world&#8217;s leading online sports betting and iGaming operator, announces Q1 results, and updates 2025 guidance. A letter to shareholders has also been published on the Group&#8217;s website at www.flutter.com\/investors Key financial highlights: In $ millions except where stated otherwise Three months ended March 31, 2025 2024 YOY \u00a0 \u00a0 \u00a0 \u00a0 Average monthly players (AMPs) (\u2018000s)1 14,880 13,722 +8% Revenue 3,665 3,397 +8% Net income (loss) 335 (177) +289% Net income (loss) margin 9.1 % (5.2)% +1,440bps Adjusted EBITDA2 616 514 +20% Adjusted EBITDA margin2 16.8 % 15.1% +170bps Earnings (loss) per share ($) 1.57 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2025-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Q1 2025 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-848786","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Q1 2025 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2025-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q1 2025 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Flutter Entertainment Reports First Quarter 2025 Financial Results DUBLIN and TORONTO and NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) &#8212; Flutter Entertainment (NYSE:FLUT; LSE:FLTR), the world&#8217;s leading online sports betting and iGaming operator, announces Q1 results, and updates 2025 guidance. A letter to shareholders has also been published on the Group&#8217;s website at www.flutter.com\/investors Key financial highlights: In $ millions except where stated otherwise Three months ended March 31, 2025 2024 YOY \u00a0 \u00a0 \u00a0 \u00a0 Average monthly players (AMPs) (\u2018000s)1 14,880 13,722 +8% Revenue 3,665 3,397 +8% Net income (loss) 335 (177) +289% Net income (loss) margin 9.1 % (5.2)% +1,440bps Adjusted EBITDA2 616 514 +20% Adjusted EBITDA margin2 16.8 % 15.1% +170bps Earnings (loss) per share ($) 1.57 &hellip; Continue reading &quot;Q1 2025 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/q1-2025-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-07T22:37:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ0NjgzNCM2OTI4MDY3IzUwMDEzMTg3Mg==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"34 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/q1-2025-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/q1-2025-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Q1 2025 Financial Results\",\"datePublished\":\"2025-05-07T22:37:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/q1-2025-financial-results\\\/\"},\"wordCount\":6820,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/q1-2025-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTQ0NjgzNCM2OTI4MDY3IzUwMDEzMTg3Mg==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/q1-2025-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/q1-2025-financial-results\\\/\",\"name\":\"Q1 2025 Financial Results - 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