Flutter has announced plans to adjust the reporting style of its financial results in the future. Specifically, the segments it reports on and how they are grouped. From now on, it will report on just two groups: US segment and International segment.
Previously, Flutter included four segments in its quarterly and annual reports: US, UK & Ireland, Australia, and International.
It will now be consolidated into two groups. One with its Flutter International segment now set to include results in Australia and the UK and Ireland. While the other will only have data from the US.
The new model will be seen in the operator’s upcoming third-quarter report.
Flutter exits exchanges at the center of change
The move aligns with Flutter’s exit from the stock exchange scene, both in Dublin and from its primary listing on the New York Stock Exchange. Such a move on the New York Stock Exchange caused analysts at the time to describe the decision as leaving its previous primary listing in London as a “jilted lover.”
While this will maintain Flutter’s annual and quarterly financial tracking for its US segment, reports suggest that similar tracking for its other segments in other countries may provide a greater challenge.
According to experts, this may be due to independent reporting of results from the UK, as well as from Ireland and Australia, both of which are no longer being independently published.
However, this has been mitigated by Flutter through a restatement of information from other financial reports made since 2021.
The consolidation of the decision on the release of “International” or “non-American” results comes shortly after the operator announced it is seeking to secure the Italian lottery’s national license.
This is through its local lottery brand Sisal and in collaboration with Scientific Games, as well as private equity firm Brookfield. Given this, the license offer is expected to reach up to 1.5 billion euros ($1.62 billion).
