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Flutter 2021 Interim Results Released : 10 Aug 2021 07:00 RNS Number : 07641 Flutter Entertainment PLC 10 August 2021 10 August 2021 Flutter Entertainment plc - 2021 Interim Results Strong customer momentum driving growth ; US profits expected in 2023 Flutter Entertainment plc ( the " Group " ) announces interim results for six months ended 30 June 2021 . Reported¹ Adjusted pro forma² H1 H1 H1 £ m 2021 2020 £ m £ m 2021 H1 2020 CC³ YOY % Average monthly players ( ' 000s ) £ m 7,625 £ m 5,445 Group Revenue Adjusted Group EBITDA excluding US 684 Adjusted Group EBITDA 597 3,053 1,536 + 99 % 3,053 2,389 339 342 + 101 % 684 + 75 % 597 703 YoY % + 40 % + 28 % + 30 % -3 % -2 % 684 -13 % -12 % YoY % Profit before tax 77 24 + 221 % ( Loss ) / Earnings per share ( pence ) ( 50.4 ) p 18.1p Adjusted earnings per share ( pence ) Net Debt at period end ? 171.1p 187.5p -9 % 2,682 2,899 -7 % 171.1p 286.3p -40 % Operational Highlights : all commentary on a pro forma basis • Group : Scale and quality of business enhanced with 30 % revenue growth driven by 40 % increase in average monthly players ( " AMPS " ) US : FanDuel product underpins leadership position ; 45 % online sportsbook market share³ in Q2 • - Revenue growth of 159 % to £ 652m ( $ 906m ) ; over 2.2 million customers acquired since sports betting launch at average CPA⁹ of $ 291 Average return on investment in first year post customer acquisition of 1.2 times⁹ Proprietary sports technology migration complete ; product and risk management advantages key to strong customer acquisition / retention , also benefitting sports margin - Flutter US expected to generate positive EBITDA in 2023 , based on our expectations of future state openings Group ex - US : Excellent customer growth with AMPS + 26 % aided by more normal sporting calendar UK & Ireland AMPS + 44 % , with integration progressing well • - Australian AMPS + 52 % driven by very high customer retention rates International revenue decline less than anticipated with casino now largest product vertical Safer gambling : Continued investment in resource and technology to optimise our controls Advanced development of Affordability Triple Step in UK & I , with next phase of rollout in H2 Stepped up Group wide campaigns to promote safer gambling awareness and tools Financial Highlights : . • Reported revenue and Adjusted EBITDA growth of 99 % and 75 % respectively benefitting from May 2020 combination with The Stars Group ( " TSG " ) Reported profit before tax of £ 77m , including amortisation charge of £ 276m for acquired intangibles • Pro forma revenue of £ 3.1bn , 30 % higher than in H1 2020 • Pro forma Adjusted EBITDA for Group ex - US 2 % lower year - on - year to £ 684m • Higher US Adjusted EBITDA loss reflecting increased investment , with 6 additional states live compared to H1 2020 • Net debt reduced by 7 % , equating to a leverage ratio of 2.3x • Debt refinance complete , increasing liquidity and reducing future annual interest cost by circa £ 50m • Dividend policy to be kept under review with medium - term leverage target of 1-2 times retained Outlook : • The second half of the year has started well . Assuming an uninterrupted sporting calendar for the remainder of the year and normalised sports results , we anticipate the following :