RE: Budget26 Nov 2025 16:15
I understand our debt position is significantly more distressful than Flutter, but their exposure and reliance on Online is huge.
And their taxes should be seeing a serious increase however their share price has reacted positively to the news
For the full year 2024, Flutter's operations were primarily online, with revenue segmentation in the following product categories:
56% from sports betting (largely online)
40% from online gaming (iGaming)
4% from fantasy sports, horse racing, and other activities
Entain's online business is estimated to be around 75% of their revenue, again they should be strongly impacted, but share price is up 4%
Our online business is only 38% of our revenue, which is large yes, but nowhere near as exposed in terms of % as the two big players.