0001193125-24-199779 | 10-Q | XBRL Viewer | Flutter Entertainment PLC

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Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation — These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting and the rules and regulations of the SEC. As such, certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Group’s audited consolidated financial statements as of and for the year ended December 31, 2023. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Group’s consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on March 26, 2024 (the “2023 Annual Report”). These condensed consolidated financial statements are unaudited; however, in the opinion of management, they include all normal and recurring adjustments necessary for a fair presentation of the Group’s unaudited condensed consolidated financial statements for the periods presented. Results of operations reported for interim periods are not necessarily indicative of results for the entire year, due to seasonal fluctuations in the Group’s revenue as a result of the timing of various sports seasons, sporting events and other factors. Recent Accounting Pronouncements Adopted In January 2024, the Group adopted Accounting Standards Update ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance in Accounting Standards Codification Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions and Leases (Topic 842): Common Control Arrangements (ASU 2023-01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The new standards did not have material impact on the Group’s unaudited condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. This ASU is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, with early adoption permitted. While the Group is continuing to assess the timing of adoption and the potential impacts of ASU 2023-07, it does not expect ASU 2023-07 to have a material effect, if any, on its consolidated financial statements. In March 2024, the FASB issued ASU 2024-01, Compensation – Stock Compensation (Topic 718): which clarifies how an entity determines whether a profit interest or similar award is (1) within the scope of ASC 718 or (2) not a share-based payment arrangement and therefore within the scope of other guidance. The ASU’s amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years with early adoption permitted. While the Group is continuing to assess the timing of adoption and the potential impacts of ASU 2024-01, it does not expect ASU 2024-01 to have a material effect on the Group’s consolidated financial condition, results of operations or cash flows.

Business Combinations	6 Months Ended
Business Combinations	Jun. 30, 2024
Business Combinations [Abstract]
Business Combinations	11. BUSINESS COMBINATIONS MaxBet On January 10, 2024, the Group completed the acquisition of 51% of MaxBet, a leading omni-channel sports betting and iGaming operator in Serbia. The purchase comprised of a provisional cash consideration of $144 million (€132 million), which remains subject to the finalization of the completion accounts as defined in the share purchase agreement and any consequent adjustment to the provisional purchase consideration. The share purchase agreement also includes call and put options to acquire the remaining 49% stake. The call and put options are exercisable in 2029, commencing on the date on which the option price is determined in accordance with the terms set out in the shareholders agreement and ending on a date that is 30 days thereafter. The options expire if neither the Group nor the non-controlling interest shareholder groups exercise the options within the option exercise period. The option price is calculated using a multiple of MaxBet’s EBITDA less net debt or plus net cash, as defined in the shareholders agreement, subject to a cap calculated as $7 billion (€6 billion) less the purchase consideration. The options can be settled, at the Group’s election, in cash or freely tradable shares of Flutter. The provisional fair value of assets and liabilities acquired was $118 million which comprised of identifiable intangible assets of $135 million consisting primarily of $100 million of trademark and $22 million of customer relations. The provisional measurements of fair value for certain assets and liabilities may be subject to change as additional information is received. The Group expects to finalize the valuation as soon as practicable, but not later than one year from acquisition date. The acquisition resulted in the recognition of $116 million goodwill on the acquisition date which has been allocated to the International segment and reporting unit. The main factors leading to the recognition of goodwill (none of which is deductible for tax purposes) is the opportunity for the Group to enter the market in the Balkans region where MaxBet is one of the market leaders with an established retail and online presence. There are also tangible opportunities to deliver synergies from the acquisition of MaxBet through (i) leveraging MaxBet’s retail channel to grow online deposits for existing Flutter brands and (ii) enhancing MaxBet’s online capabilities by utilizing the Group’s technology and marketing resources. The fair value of redeemable non-controlling interest was $89 million, which was provisionally estimated by applying a discount for lack of marketability of 20% considering the output of the Finnerty method and discount for lack of control of 20% using implied discounts from observable transactions and data based on Mergerstat studies. Acquisition-related costs during the three months ended and six months ended June 30, 2024 and June 30, 2023 were not material and are included in the general and administrative expenses in the Group’s consolidated statement of comprehensive (loss) / income. Since the date of acquisition to June 30, 2024, MaxBet has contributed revenue of $99 million and $8 million of profit after tax to the results of the Group. For the three months ended June 30, 2024, MaxBet contributed revenue of $52 million and $5 million of profit after tax to the results of the Group. BeyondPlay On May 31, 2024, the Group completed the acquisition of 100% of BeyondPlay for a consideration of $26 million. The provisional fair value of the assets and liabilities acquired was $17 million which comprised of technology intangibles of $18 million and deferred tax liability of $1 million. The acquisition resulted in the recognition of $9 million of goodwill which has been allocated to the U.S. segment. The contribution of BeyondPlay to the revenue and profit after tax of the Group was not material. Considering that the size of the acquisitions are not material, no additional pro-forma information is provided .

Fair Value Measurements - Schedule of of the Group's financial assets, financial liabilities and redeemable non-controlling interests (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale – Player deposits – investments	$ 174	$ 172
Equity securities - Investments	7	9
Derivative financial assets	27	0
Total	208	181
Derivative financial liabilities	165	178
Fox Option Liability	490	400
Contingent consideration	16	20
Total	671	598
Redeemable non-controlling interests at fair value	1,251	1,100
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale – Player deposits – investments	157	33
Equity securities - Investments	0	0
Derivative financial assets	0
Total	157	33
Derivative financial liabilities	0	0
Fox Option Liability	0	0
Contingent consideration	0	0
Total	0	0
Redeemable non-controlling interests at fair value	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale – Player deposits – investments	17	139
Equity securities - Investments	0	0
Derivative financial assets	27
Total	44	139
Derivative financial liabilities	165	178
Fox Option Liability	0	0
Contingent consideration	0	0
Total	165	178
Redeemable non-controlling interests at fair value	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale – Player deposits – investments	0	0
Equity securities - Investments	7	9
Derivative financial assets	0
Total	7	9
Derivative financial liabilities	0	0
Fox Option Liability	490	400
Contingent consideration	16	20
Total	506	420
Redeemable non-controlling interests at fair value	$ 1,251	1,100
Pokerstars Trade Mark [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		368
Pokerstars Trade Mark [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		0
Pokerstars Trade Mark [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		0
Pokerstars Trade Mark [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		368
Fair Value, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		368
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		0
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		0
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total nonrecurring fair value measurement		$ 368

Segments and Disaggregation of Revenue - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Segments	Jun. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Restructuring and other strategic initiative fees \| $	$ 22	$ 26	$ 45	$ 47
Segment Reporting, No Asset Information [true false]			true
Other Segments [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments \| Segments			4

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 1,526	$ 1,497
Cash and cash equivalents – restricted	25	22
Player deposits – cash and cash equivalents	1,684	1,752
Player deposits – investments	174	172
Accounts receivable, net	75	90
Prepaid expenses and other current assets	441	443
TOTAL CURRENT ASSETS	3,925	3,976
Investments	7	9
Property and equipment, net	480	471
Operating lease right-of-use assets	456	429
Intangible assets, net	5,664	5,881
Goodwill	13,679	13,745
Deferred tax assets	29	24
Other non-current assets	82	100
TOTAL ASSETS	24,322	24,635
CURRENT LIABILITIES:
Accounts payable	234	240
Player deposit liability	1,775	1,786
Operating lease liabilities	124	123
Long-term debt due within one year	53	51
Other current liabilities	2,192	2,326
TOTAL CURRENT LIABILITIES	4,378	4,526
Operating lease liabilities – non-current	374	354
Long-term debt	6,737	7,005
Deferred tax liabilities	737	802
Other non-current liabilities	612	580
TOTAL LIABILITIES	12,838	13,267
COMMITMENTS AND CONTINGENCIES (Note 16)
REDEEMABLE NON-CONTROLLING INTERESTS	1,432	1,152
SHAREHOLDERS' EQUITY
Ordinary share (Authorized 300,000,000 shares of €0.09 ($0.10) par value each; issued June 30, 2024: 177,681,906 shares; December 31, 2023: 177,008,649 shares)	36	36
Shares held by employee benefit trust, at cost June 30, 2024: 0 shares, December 31, 2023: 0 shares		0
Additional paid-in capital	1,503	1,385
Accumulated other comprehensive loss	(1,674)	(1,483)
Retained earnings	10,018	10,106
Total Flutter Shareholders' Equity	9,883	10,044
Non-controlling interests	169	172
TOTAL SHAREHOLDERS' EQUITY	10,052	10,216
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY	$ 24,322	$ 24,635

Fair Value Measurements - Schedule of financial assets and liabilities carried at fair value (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other comprehensive (income) loss attributable to redeemable non-controlling interest	$ 2	$ (29)	$ 14	$ (55)
Adjustment of redeemable non-controlling interest to redemption at fair value	18	(5)	33	(5)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Beginning balance	(592)	(299)	(411)	(231)
Included in earnings	94	(53)	(92)	(117)
Included in other comprehensive income	(1)	(7)	4	(11)
Net (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Other comprehensive (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Adjustment of redeemable non-controlling interest to redemption at fair value	0	0	0	0
Ending balance	(499)	(359)	(499)	(359)
Change in unrealized gains or losses for the period included in earnings	94	(53)	(92)	(117)
Change in unrealized gains or losses for the period included in other comprehensive income	(1)	(7)	4	(11)
Fair Value, Inputs, Level 3 [Member] \| Contingentent Consideration [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Beginning balance	(19)	(20)	(20)	(22)
Included in earnings	3	0	3	0
Included in other comprehensive income	0	0	1	2
Net (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Other comprehensive (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Adjustment of redeemable non-controlling interest to redemption at fair value	0	0	0	0
Ending balance	(16)	(20)	(16)	(20)
Change in unrealized gains or losses for the period included in earnings	3	0	3	0
Change in unrealized gains or losses for the period included in other comprehensive income	0	0	1	2
Fair Value, Inputs, Level 3 [Member] \| Equity securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Beginning balance	7	11	9	11
Included in earnings	0	0	(2)	0
Included in other comprehensive income	0	0	0	0
Net (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Other comprehensive (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Adjustment of redeemable non-controlling interest to redemption at fair value	0	0	0	0
Ending balance	7	11	7	11
Change in unrealized gains or losses for the period included in earnings	0	0	(2)	0
Change in unrealized gains or losses for the period included in other comprehensive income	0	0	0	0
Fair Value, Inputs, Level 3 [Member] \| Fox Option liability [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Beginning balance	(580)	(290)	(400)	(220)
Included in earnings	91	(53)	(93)	(117)
Included in other comprehensive income	(1)	(7)	3	(13)
Net (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Other comprehensive (income) loss attributable to redeemable non-controlling interest	0	0	0	0
Adjustment of redeemable non-controlling interest to redemption at fair value	0	0	0	0
Ending balance	(490)	(350)	(490)	(350)
Change in unrealized gains or losses for the period included in earnings	91	(53)	(93)	(117)
Change in unrealized gains or losses for the period included in other comprehensive income	(1)	(7)	3	(13)
Fair Value, Inputs, Level 3 [Member] \| Redeemable non- controlling interest at fair value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Redeemable non- controlling interest at fair value, Beginning balance	(1,304)	(919)	(1,100)	(781)
Included in earnings	0	0	0	0
Included in other comprehensive income	0	0	0	0
Net (income) loss attributable to redeemable non-controlling interest	(7)	1	(6)	5
Other comprehensive (income) loss attributable to redeemable non-controlling interest	0	(27)	11	(44)
Adjustment of redeemable non-controlling interest to redemption at fair value	63	(60)	(153)	(185)
Redeemable non- controlling interest at fair value, Ending balance	(1,248)	(1,005)	(1,248)	(1,005)
Change in unrealized gains or losses for the period included in earnings	0	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income	$ 0	$ 0	$ 0	$ 0

Derivatives

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

13. DERIVATIVES

In the normal course of the Group’s business operations, it is exposed to certain risks, including changes in interest rates and foreign currency risk. In order to manage these risks, the Group uses derivative instruments such as futures, forward contracts, swaps, options and other instruments with similar characteristics. All of the Group’s derivatives are used for

non-trading

activities.

Cash flow hedges of interest rate and foreign currency risk

Interest rate and foreign currency risk arising from a portion of the Group’s floating interest rate USD First Lien Term Loan B maturing in 2030 and foreign currency risk arsing from the Group’s fixed rate USD Senior Secured Notes maturing in 2029 are managed using interest rate swaps and cross-currency interest rate swaps, which are designated as cash flow hedges with the objective of reducing the volatility of interest expense and foreign currency gains and losses in the case of the USD First Lien Term Loan B maturing in 2030 and foreign currency risk in case of fixed rate USD Senior Secured Notes maturing in 2029.

Under the terms of the cross-currency interest rate swaps designated as a hedge of the interest rate and foreign currency risk arising from USD First Lien Term Loan B maturing in 2030, the Group makes fixed rate interest payments and principal repayments in pounds sterling (GBP) and receives variable interest amounts in U.S. dollars (USD) from counterparties over the life of the agreements effectively converting the variable rate term loans into fixed interest rate debts with the exchange

of the underlying notional amounts over the term of the loan whereby the Group will receive USD from and pay GBP to the counterparties at exchange rates which are determined at contract inception. Under the terms of the interest rate swaps designated as a hedge of the interest risk arising from the USD First Lien Term Loan B maturing in 2030, the Group makes fixed rate interest payments and receives variable interest amounts in USD from counterparties over the life of the agreements, effectively converting the variable rate term loans into fixed interest rate debt. Under the terms of the cross-currency interest rate swaps designated as a hedge of the foreign currency risk arising from the USD Senior Secured Notes maturing in 2029, the Group makes fixed interest rate payment in GBP and receives fixed interest rate payments in USD with the exchange of the underlying notional amounts at maturity whereby the Group will receive USD from and pay GBP to the counterparties at exchange rates which are determined at contract inception, thereby effectively converting the USD Senior Secured Notes to GBP Senior Secured Notes.

1,595 million as of June 30, 2024, and $1,603 million as of December 31, 2023 with maturities of ranging from September 30, 2024 to June 30, 2025. The notional amount of interest-rate swaps accounted for as cash-flow hedges was $1,089 million as of June 30, 2024 and $1,094 million as of December 31, 2023 with maturities ranging from September 30, 2024 to June 30, 2025. The notional amount of cross-currency interest rate swaps accounted for as cash-flow hedges of foreign currency risk on the fixed rate USD Senior Secured Notes was $525 million as of June 30, 2024 and $0 as of December 31, 2023 maturing on April 15, 2026. Changes in the fair value on the portion of the derivative included in the assessment of hedge effectiveness of cash-flow hedges are recorded in other comprehensive income (loss)

foreign exchange (loss) gain, net, which is a component of other (expense) income, ne

The amount reclassified from accumulated other comprehensive income / (loss) into earnings was a net loss of $12 million for the three months ended June 30, 2024, and a net loss of $41 million for the three months ended June 30, 2023 and a net gain of $2 million for the six months ended June 30, 2024 (net loss of $84 million for the six months ended June 30, 2023).

The Group expects to reclassify a gain of $5

million from accumulated other comprehensive income (loss) into earnings within the next 12 months.

Net investment hedge

The Group has investments in various subsidiaries which form part of the Group’s International segment with Euro functional currencies. As a result, the Group is exposed to the risk of fluctuations between the Euro and GBP exchange rates. The Group designated its EUR First Lien Term Loan A maturing in 2028, EUR First Term Loan B maturing in 2026 (repaid in full on April 29, 2024

)

(the EUR First Lien Term Loan A maturing in 2028 together with the EUR First Term Loan B maturing in 2026, the EUR Term Loans), the EUR Senior Notes due 2029 and receive fixed rate, pay fixed rate cross-currency interest swaps whereby the Group will receive GBP from and pay Euro to the counterparties at exchange rates which are determined at contract inception, as a net investment hedge which are intended to mitigate foreign currency exposure related to

non-GBP

net investments in certain Euro functional subsidiaries.

As of June 30, 2024, the nominal exposures of EUR First Lien Term Loan A and EUR Senior Notes designated as net investment hedges was $408 million and $500 million respectively. The nominal exposures of the EUR Term Loans was $980 million as of December 31, 2023. The designated hedge amounts were considered highly effective. The Group has also designated certain EUR cross currency interest rate swap contracts in net investment hedging relationships. The notional amount of cross-currency swaps accounted for as net investment hedges was $347 million as of June 30, 2024 and $359 million as of December 31, 2023. The designated hedge amounts were considered highly effective.

The foreign currency transaction gains and losses on the euro-denominated portion of the term loan and the cross-currency interest swaps, which are designated and effective as a hedge of the Group’s net investment in its euro-denominated functional currency subsidiaries, are included as a component of the foreign currency translation adjustment. Gains, net of tax, included in the foreign currency translation adjustment were $50 million for the three months ended June 30, 2024 (gains, net of tax amounting to $8 million for the three months ended June 30, 2023), and gain, net of tax amounting to $29 million for the six months ended June 30, 2024 (gain, net of tax amounting to $12 million for the six months ended June 30, 2023). There were no amounts reclassified out of accumulated other comprehensive income (“AOCI”) pertaining to the net investment hedge during the three months ended June 30, 2024, and 2023 as the Group has not sold or liquidated (or substantially liquidated) its hedged subsidiaries.

Economic hedges

The Group uses cross-currency interest rate swaps to economically hedge the Group’s net foreign currency exposure arising from 1) the risk of fluctuations between the EUR and GBP exchange rates from the Group’s investment in various subsidiaries which form part of the Group’s International segment and 2) the risk of fluctuations between the USD and GBP exchange rates arising from the portion of the Group’s USD Term Loan that is not designated in a cash flow hedge. The cross-currency interest rate swaps are also used to manage the interest rate risk arising from

the portion of the Group’s USD Term Loan that is not designated in a cash flow hedge. Under the terms of the cross-currency interest rate swaps, the Group makes fixed-rate interest payments in EUR and receives variable interest amounts in USD from counterparties over the life of the agreements effectively converting the variable rate debt into fixed interest rate debt with the exchange of the underlying notional amounts at maturity whereby the Group will receive USD from and pay EUR to the counterparties at exchange rates which are determined at contract inception. Changes in the fair value of these instruments are recorded in earnings throughout the term of the cross-currency interest rate swaps and are reported in other income, net in the Condensed Consolidated Statements of Comprehensive (Loss) Income. As of June 30, 2024, the cross-currency interest rate swaps are set to mature in September 2024.

The following table summarizes the fair value of derivatives as of June 30, 2024 and December 31, 2023:


($ in millions)	Derivative Assets						Derivative Liabilities

	June-24			December-23			June-24				December-23

	Balance sheet location	Fair value		Balance sheet location	Fair value		Balance sheet location	Fair value			Balance sheet location	Fair value

Derivatives designated as cash flow hedges:
Cross-currency interest rate swaps	Prepaid expenses and other current assets	$	—	Prepaid expenses and other current assets	$	—	Other current liabilities	$	(109)		Other current liabilities	$	(104	)
Cross-currency interest rate swaps	Other non-current assets		—	Other non-current assets		—	Other non-current liabilities		(3	)	Other non-current liabilities		(21	)
Interest rate swaps	Prepaid expenses and other current assets	$	6	Prepaid expenses and other current assets		—	Other non-current liabilities		—		Other non-current liabilities		—

Total derivatives designated as cash flow hedges		$	6		$	—		$	(112)			$	(125	)



Derivatives designated as net investment hedges:
Cross-currency interest rate swaps	Prepaid expenses and other current assets	$	6	Prepaid expenses and other current assets	$	—	Other current liabilities	$	—		Other non-current liabilities	$	(1	)

Total derivatives designated as hedging instruments		$	6		$	—		$	—			$	(1	)


Derivatives not designated as hedging instruments:
Cross-currency interest rate swaps	Prepaid expenses and other current assets	$	15	Prepaid expenses and other current assets	$	—	Other current liabilities	$	(53	)	Other current liabilities	$	(52	)

Total derivatives not designated as hedging instruments		$	15		$	—		$	(53	)		$	(52	)

Total derivatives		$	27		$	—		$	(165)			$	(178	)

Segments and Disaggregation of Revenue

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segments and Disaggregation of Revenue

3. SEGMENTS AND DISAGGREGATION OF REVENUE

The Group reports its financial statements based on four reportable segments:

•

U.S.;

•

UK & Ireland (“UKI”);

•

International; and

•

Australia

The segment information aligns with how the chief operating decision maker (“CODM”) reviews and manages the business. The Group determined that it is the Chief Executive Officer and Chief Financial Officer jointly who are performing the function of CODM.

Beginning January 1, 2024, the Group revised its definition of Adjusted EBITDA, which is the segment measurement used to evaluate performance and allocate resources. The definition of Adjusted EBITDA now excludes share-based compensation as management believes inclusion of share-based compensation can obscure underlying business trends as share-based compensation could vary widely among companies due to different plans in place resulting in companies using share-based compensation awards differently, both in type and quantity of awards granted.

Effective January 1, 2024, subsequent to the Group’s decision to close the sports betting platform “FOX Bet”, the Group reorganized how the PokerStars (U.S.) business is managed which resulted in a change in operating segment composition. From January 1, 2024, PokerStars (U.S.) is included in the International segment as opposed to the U.S. segment.

Segment results for the three and six months ended June 30, 2023, have been revised to reflect the change in operating segment measurement and change in operating segment composition.

The Group manages its assets on a total company basis, not by operating segment. Therefore, the CODM does not regularly review any asset information by operating segment and accordingly, the Group does not report asset information by operating segment.

The following tables present the Group’s segment information:


	Three months ended June 30,				Six months ended June 30,
($ in millions)		2024		2023		2024		2023
Revenue
U.S.
Sportsbook	$	1,099	$	781	$	2,085	$	1,540
iGaming		357		243		715		484
Other		71		73		137		144

U.S. segment revenue		1,527		1,097		2,937		2,168

UKI
Sportsbook		451		401		862		777
iGaming		423		339		829		658
Other		54		49		98		90

UKI segment revenue		928		789		1,789		1,525

International
Sportsbook		197		154		357		335
iGaming		574		540		1,174		1,093
Other		36		32		73		58

International segment revenue		807		726		1,604		1,486

Australia
Sportsbook		349		389		678		740

Australia segment revenue		349		389		678		740

Total reportable segment revenue	$	3,611	$	3,001	$	7,008	$	5,919

iGaming revenue includes Poker and Lottery.

The information below summarizes revenue by geographical market for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,				Six months ended June 30,
($ in millions)		2024		2023		2024		2023
U.S	$	1,495	$	1,087	$	2,894	$	2,170
UK		848		707		1,630		1,367
Ireland		76		80		153		158
Australia		349		389		678		740
Italy		371		332		736		701
Rest of the world		472		406		917		783

Total revenue	$	3,611	$	3,001	$	7,008	$	5,919

The information below shows the reconciliation of reportable segment Adjusted EBITDA to income (loss) before income taxes for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,						Six months ended June 30,
($ in millions)		2024			2023			2024			2023
UKI	$	293		$	249		$	561		$	455
U.S.		260			172			286			119
International		156			145			329			294
Australia		74			108			157			193

Reportable segment adjusted EBITDA		783			674			1,333			1,061
Unallocated corporate overhead 1		(45	)		(41	)		(81	)		(76	)
Depreciation and amortization		(272	)		(303	)		(569	)		(601	)
Share-based compensation expense		(59	)		(64	)		(100	)		(110	)
Transaction fees and associated costs 2		(16	)		(17	)		(45	)		(20	)
Restructuring and integration costs 3		(22	)		(26	)		(45	)		(47	)
Other (expense) income, net		89			10			(85	)		(35	)
Interest expense, net		(108	)		(82	)		(220	)		(174	)

Income (loss) before income taxes	$	350		$	150		$	188		$	(2	)

1.	Unallocated corporate overhead includes shared technology, research and development, sales and marketing, and general and administrative expenses that are not allocated to specific segments.

Comprises 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 for the three and six months ended June 30, 2024 respectively. For the three and six months ended June 30, 2023 transaction fees and associated costs comprised advisory fees related to the proposed listing of Flutter’s ordinary shares in the U.S..

During the three and six months ended June 30, 2024, costs of $22 million and $45 million (three and six months ended June 30, 2023: $26 million and $47 million) primarily relate to various restructuring and other strategic initiatives to drive synergies. These actions include efforts to consolidate and integrate our technology infrastructure, back-office functions and relocate certain operations to lower cost locations. The costs primarily include severance expenses, advisory fees and temporary staffing cost.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

15. FAIR VALUE MEASUREMENTS

The following tables set forth the fair value of the Group’s financial assets, financial liabilities and redeemable

non-controlling

interests measured at fair value based on the three-tier fair value hierarchy:


	As of June 30, 2024
($ in millions)	Level 1			Level 2			Level 3			Total
Financial assets measured at fair value:
Available for sale – Player deposits – investments		$	157		$	17		$	—		$	174
Equity securities - Investments			—			—			7			7
Derivative financial assets			—			27			—			27

Total			157			44			7			208

Financial liabilities measured at fair value:
Derivative financial liabilities			—			165			—			165
Fox Option liability			—			—			490			490
Contingent consideration			—			—			16			16

Total			—			165			506			671

Redeemable non-controlling interests at fair value		$	—		$	—		$	1,251		$	1,251


	As of December 31, 2023
($ in millions)	Level 1		Level 2		Level 3		Total
Financial assets measured at fair value:
Available for sale – Player deposits – investments	$	33	$	139	$	—	$	172
Equity securities - Investments		—		—		9		9

Total		33		139		9		181

Financial liabilities measured at fair value:
Derivative financial liabilities		—		178		—		178
Fox Option liability		—		—		400		400
Contingent consideration		—		—		20		20

Total		—		178		420		598

Redeemable non-controlling interests at fair value	$	—	$	—	$	1,100	$	1,100
PokerStars trademark held and used 1	$	—	$	—	$	368	$	368


Total nonrecurring fair value measurement		—		—	$	368	$	368

In accordance with subtopic

360-10,

Pokerstars’ trademark held and used with a carrying amount of $1,093 million was written down to its fair value of $368 million, in the fourth quarter of 2023 resulting in an impairment of $725 million, which was included in sales and marketing expenses. The Group utilized the relief from royalty method under the income approach to estimate the fair value. Assumptions inherent in estimating the fair value included revenue forecast, royalty rate of 5.0%, income tax rate of 12.5%, and discount rate of 12.5%. The Group selected the assumptions used in the financial forecasts of cash flows specific to the remaining useful life of the trademark using historical data, supplemented by current and anticipated market conditions and estimated growth rates. Financial forecasts beyond the period covered by the plans were estimated by extrapolating the forecasts based on the plans using a steady growth in line with the long-term average growth for the countries in which the trademark is used. As the fair value measurements were based on significant inputs not observable in the market, they represented Level 3 measurements within the fair value hierarchy. There were no transfers between levels of the fair value hierarchy during the three and six months ended June 30, 2024, and December 31, 2023.

Valuation of Level 2 financial instruments

Available for sale – Player deposits – investments

The Group has determined that the fair value of available for sale – player deposits – investments is determined by using observable quoted prices or observable input parameters derived from comparable bonds/markets. Although the Group has determined that a number of the bonds fall within Level 1 of the fair value hierarchy, there are a class of bonds which have been classified as Level 2 due to the existence of relatively inactive trading markets for those bonds.

Derivative financial assets and liabilities – Swap agreements

The Group uses derivative financial instruments to manage its interest rate and foreign currency risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis of the expected cash flows of each derivative and incorporates credit valuation adjustments. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, such as yield curves, spot and forward FX rates.

As of June 30, 2024, the Group assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions, determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Group determined that its valuations of its derivatives in their entirety are classified in Level 2 of the fair value hierarchy.

Valuation of Level 3 financial instruments

Equity securities

The Group determined the fair value of investments in equity securities that do not have a readily available market value amounting to $7 million at June 30, 2024 (December 31, 2023: $9 million) using the Market Comparable Companies Approach based on EBITDA multiple. The movement in the fair value of equity securities for the three and six months ended June 30, 2024 and 2023 was immaterial.

Non-derivative

financial instruments

Fox Option

The fair value of the Fox Option amounts to $490 million at June 30, 2024 and $400 million at December 31, 2023 which was determined using an option pricing model. As of June 30, 2024, and December 31, 2023, the option price was $4.4 billion and $4.3 billion, respectively. The significant unobservable inputs were the enterprise value of FanDuel, the discount for lack of marketability (“DLOM”), the discount for lack of control (“DLOC”), implied volatility and probability of Fox getting licensed.

The enterprise value of FanDuel was determined using an equal weight to the value indications of the discounted cash flow analysis and the guideline public company analysis. The discount rate used in the discounted cash flow analysis was 21.0% and 19.0% as of June 30, 2024 and as of December 31, 2023, respectively.

Additionally, management applied a combined 35.0% discount for lack of marketability and lack of control as of June 30, 2024, and as of December 31, 2023. A range of DLOMs obtained using various securities-based approaches was 12.4% to 19.2%. DLOC was estimated at 18.4% using implied discounts in previous observable transactions involving FanDuel’s equity ownership and data based on Mergerstat studies as of June 30, 2024, and as of December 31, 2023 respectively.

Management selected a discount rate of 35.0%, which is on the higher end of the third quartile based on the ranges considered by management.

The volatility was 35.0% and 36.0% as of June 30, 2024 and year ended December 31, 2023, which was within the range of selected comparable companies. In developing the fair value measurement, the probability of a market participant submitting to and obtaining a license was estimated at 75.0% as of June 30, 2024, and as of December 31, 2023.

Changes in discount rates, revenue multiples, DLOM, DLOC, implied volatility and probability of Fox getting licensed, each in isolation, may change the fair value of the Fox Option. Generally, an increase in discount rates and DLOM, DLOC or decrease in revenue multiples, implied volatility and probability of Fox getting licensed may result in a decrease in the fair value of the Fox Option. Due to the inherent uncertainty of determining the fair value of the Fox Option, the fair value of the Fox Option may fluctuate from period to period. Additionally, the fair value of the Fox Option may differ significantly from the value that would have been used had a readily available market existed for FanDuel Group LLC. In addition, changes in the market environment and other events that may occur over the life of the Fox Option may cause the losses ultimately realized on the Fox Option to be different than the unrealized losses reflected in the valuations currently assigned.

Redeemable

non-controlling

interests at fair value

The terms of symmetrical call and put options agreed between the Group and Boyd require exercise price to be calculated at fair market value without giving effect to DLOM and DLOC. FanDuel’s

pre-discount

enterprise value determined in the same manner as discussed earlier for June 30, 2024 and December 31, 2023 is considered in measuring the fair value of redeemable

non-controlling

interests owned by Boyd.

Contingent consideration

The contingent consideration payable is primarily determined with reference to forecast performance for the acquired businesses during the relevant time periods and the amounts to be paid in such scenarios. The fair value was estimated by assigning probabilities to the potential payout scenarios. The significant unobservable inputs are forecast performance for the acquired businesses.

The fair value of contingent consideration is primarily dependent on forecast performance for the acquired businesses in excess of a predetermined base target. An increase and decrease of 10% in the excess over the predetermined base target during the relevant time periods would increase and decrease the value of contingent consideration at June 30, 2024 by $2 million and $2 million, respectively (December 31, 2023: $2 million and $2 million).

Movements in the three months period in respect of Level 3 financial instruments carried at fair va

The movements in respect of the financial assets and liabilities carried at fair value are as follows:


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of March 31, 2024	$	(19	)	$	7	$	(580	)	$	(592	)	$	(1,304	)
Total gains or losses for the period:
Included in earnings		3			—		91			94			—
Included in other comprehensive income		—			—		(1	)		(1	)		—
Attribution of net loss and other comprehensive income:
Net income attributable to redeemable non-controlling interest		—			—		—			—			(7	)
Other comprehensive income attributable to redeemable non-controlling interest		—			—		—			—			—
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			63

Balance as of June 30, 2024		(16	)		7		(490	)		(499	)		(1,248	)

Change in unrealized gains or losses for the period included in earnings		3			—		91			94			—

Change in unrealized gains or losses for the period included in other comprehensive income	$	—		$	—	$	(1	)	$	(1	)	$	—


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of December 31, 2023	$	(20)		$	9	$	(400)		$	(411)		$	(1,100	)
Total gains or losses for the period:
Included in earnings		3			(2)		(93)			(92)			—
Included in other comprehensive income		1			—		3			4			—
Attribution of net loss and other comprehensive income:
Net income attributable to redeemable non-controlling interest		—			—		—			—			(6)
Other comprehensive loss attributable to redeemable non-controlling interest		—			—		—			—			11
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			(153)

Balance as of June 30, 2024		(16)			7		(490)			(499)			(1,248)

Change in unrealized gains or losses for the period included in earnings		3			(2)		(93)			(92)			—

Change in unrealized gains or losses for the period included in other comprehensive income	$	1		$	—	$	3		$	4		$	—


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of March 31, 2023	$	(20	)	$	11	$	(290	)	$	(299	)	$	(919	)
Total gains or losses for the period:
Included in earnings		—			—		(53	)		(53	)		—
Included in other comprehensive income		—			—		(7	)		(7	)		—
Attribution of net loss and other comprehensive income:
Net loss attributable to redeemable non-controlling interest		—			—		—			—			1
Other comprehensive income attributable to redeemable non-controlling interest		—			—		—			—			(27	)
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			(60	)

Balance as of June 30, 2023		(20	)		11		(350	)		(359	)		(1,005	)

Change in unrealized gains or losses for the period included in earnings		—			—		(53	)		(53	)		—

Change in unrealized gains or losses for the period included in other comprehensive income	$	—		$	—	$	(7	)	$	(7	)	$	—


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of December 31, 2022	$	(22	)	$	11	$	(220	)	$	(231	)	$	(781	)
Total gains or losses for the period:
Included in earnings		—			—		(117)			(117)			—
Included in other comprehensive income		2			—		(13)			(11)			—
Attribution of net loss and other comprehensive income:
Net loss attributable to redeemable non-controlling interest		—			—		—			—			5
Other comprehensive income attributable to redeemable non-controlling interest		—			—		—			—			(44)
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			(185)

Balance as of June 30, 2023		(20)			11		(350)			(359)			(1,005)

Change in unrealized gains or losses for the period included in earnings		—			—		(117)			(117)			—

Change in unrealized gains or losses for the period included in other comprehensive income	$	2		$	—	$	(13)		$	(11)		$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Long-Term Debt - Additional Information (Detail) € in Millions, £ in Millions, $ in Millions		3 Months Ended	6 Months Ended			12 Months Ended
	Apr. 29, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 GBP (£)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 GBP (£)	Apr. 29, 2024 EUR (€)
Debt Instrument, Redemption [Line Items]
Gain(loss) on extinguishment of debt			$ (5)	$ 0
First Incremental Term B Loans [Member]
Debt Instrument, Redemption [Line Items]
Proceeds from (repayments of) debt			$ 514
USD Senior Secured Notes Due 2029 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument face value	$ 525
Debt instrument issue price as a percentage of nominal value of debt instrument issued	100.00%
Long term debt bearing fixed interest rate percentage		6.375%	6.375%
USD Senior Secured Notes Due 2029 [Member] \| Tranche One Fourty Percentage Of Aggregate Principal Amount Eligible For Redemption Prior To Fifteenth April Two Thousand And Twenty Six [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument redemption price as a percentage of issue price			106.375%
Debt instrument percentage of the aggregate principal amount eligible for premature redemption		40.00%	40.00%
USD Senior Secured Notes Due 2029 [Member] \| Tranche Two Ten Percentage Of Aggregate Principal Amount Eligible For Redemption After Twenty Ninth Of April Two Thousand And Twenty Four [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument redemption price as a percentage of issue price			103.00%
Debt instrument percentage of the aggregate principal amount eligible for premature redemption		10.00%	10.00%
EUR Senior Secured Notes Due 2029 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument face value \| €								€ 500
Debt instrument issue price as a percentage of nominal value of debt instrument issued	100.00%
Long term debt bearing fixed interest rate percentage		5.00%	5.00%
Debt instrument redemption price as a percentage of issue price			100.00%
EUR Senior Secured Notes Due 2029 [Member] \| Tranche One Fourty Percentage Of Aggregate Principal Amount Eligible For Redemption Prior To Fifteenth April Two Thousand And Twenty Six [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument redemption price as a percentage of issue price			105.00%
Debt instrument percentage of the aggregate principal amount eligible for premature redemption		10.00%	10.00%
EUR Senior Secured Notes Due 2029 [Member] \| Tranche Two Ten Percentage Of Aggregate Principal Amount Eligible For Redemption After Twenty Ninth Of April Two Thousand And Twenty Four [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument redemption price as a percentage of issue price			103.00%
Debt instrument percentage of the aggregate principal amount eligible for premature redemption		40.00%	40.00%
USD and Euro Senior Secured Notes 2029 [Member]
Debt Instrument, Redemption [Line Items]
Debt issuance costs gross	$ 13
Debt instrument terms of interest payment			both payable semi-annually in arrears
Debt instrument redemption price as a percentage of issue price			100.00%
EUR First Lien Term Loan B Due 2026 [Member]
Debt Instrument, Redemption [Line Items]
Gain(loss) on extinguishment of debt		$ (5)	$ (5)
GBP Credit Facility [Member]
Debt Instrument, Redemption [Line Items]
Proceeds from (repayments of) debt			126	609
Repayments of debt			851	$ 687
Revolving Credit Facility [Member]
Debt Instrument, Redemption [Line Items]
Line of credit facility, maximum amount outstanding during period			1,300		£ 1,000	$ 537	£ 422
Line of credit facility issuance guarantees			$ 13			$ 13

Interest Expense, Net

6 Months Ended

Jun. 30, 2024

Interest Income (Expense), Net [Abstract]

Interest Expense, Net

5. INTEREST EXPENSE, NET

The following table shows the detail of interest expense, net for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,						Six months ended June 30,
($ in millions)		2024			2023			2024			2023
Interest and amortization of debt discount and expense on long-term debt, bank guarantees	$	122		$	98		$	248		$	195
Other interest expense		2			(2	)		4			(2	)
Interest income		(16	)		(14	)		(32	)		(19	)

Interest expense, net	$	108		$	82		$	220		$	174

Fair Value Measurements - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 25, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value measurement with unobservable inputs reconciliation recurring basis asset transfers net	$ 0	$ 0	$ 0
Equity securities without readily determinable fair value amount	7	7	9
Other liabilities at fair value	$ 490	$ 490	$ 400
Percentage increase in significant unobservable input liabilities business combination contingent consideration	10.00%	10.00%	10.00%
Percentage decrease in significant unobservable input liabilities business combination contingent consideration	10.00%	10.00%	10.00%
Business combination contingent consideration estimated increase in liabilities due to percentage increase in significant unobservable input	$ 2	$ 2	$ 2
Business combination contingent consideration estimated decrease in liabilities due to percentage increase in significant unobservable input	2	2	2
Fox Options [Member] \| Fox Corporation [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights outstanding	$ 4,400	$ 4,400	$ 4,300
Measurement Input, Discount Rate [Member] \| Fox Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	21	21	19
Measurement Input, Discount Rate [Member] \| Fox Options [Member] \| Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	35	35
Discount For Lack Of Marketability And Control [Member] \| Fox Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	35	35	35
Discount For Lack Of Marketability And Control [Member] \| Fox Options [Member] \| Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	12.4	12.4
Measurement Input, Discount for Lack of Marketability [Member] \| Fox Options [Member] \| Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input			19.2	19.2
Measurement Input, Discount for Lack of Marketability [Member] \| Fox Options [Member] \| Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input			12.4
Discount For Lack Of Control Based On Fan Duels Equity Ownership And Data Based On Megarstat Studies [Member] \| Fox Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	18.4	18.4	18.4
Measurement Input, Price Volatility [Member] \| Fox Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	35	35	36
Probabiltiy Of Market Participant Submitting And Obtaining License [Member] \| Fox Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and rights measurement input	75	75	75
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities without readily determinable fair value amount	$ 7	$ 7	$ 9
Other liabilities at fair value	490	490	400
Fair Value, Inputs, Level 3 [Member] \| Fox Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other liabilities at fair value	$ 490	$ 490	$ 400

Other Current Liabilities - Schedule of Other Current Liabilities (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other Liabilities, Current [Abstract]
Accrued expenses	$ 1,006	$ 945
Betting duty, data rights, and product and racefield fees	398	453
Employee benefits	260	330
Sports betting open positions	82	119
Derivative financial liabilities	162	156
Current tax payables	108	94
Loss contingencies	74	74
Indirect and payroll taxes	58	155
Deferred consideration	28	0
Contingent consideration	16	0
Total other current liabilities	$ 2,192	$ 2,326

Commitments and Contingencies - Additional Information (Detail) € in Millions, $ in Millions, ₨ in Billions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 EUR (€)	Jun. 25, 2024 USD ($)	Jun. 25, 2024 INR (₨)	Dec. 31, 2023 USD ($)
Austria And German Payer Claims [Member]
Other Commitments [Line Items]
Loss contingency estimate of possible loss	$ 46		€ 43
Austria And German Payer Claims [Member] \| Other Current Liabilities [Member]
Other Commitments [Line Items]
Loss contingency accrual current	14		€ 13
Case Relting To PokerStar Business In Respect Of Income Tax Payable [Member] \| Ministry of Economic Affairs and Finance, Italy [Member]
Other Commitments [Line Items]
Loss contingency settled during the period	$ 9	€ 8
Goods And Service Tax Claim Pending In Respect Of Online Gaming Business [Member]
Other Commitments [Line Items]
Other commitements				$ 2,100	₨ 179.1
Applicable goods and service tax rate on online gaming if characterised as a game of skill	18.00%	18.00%
Goods and service tax rate subject to approval by tax authorities if categorized as a game of chance	28.00%	28.00%
Past goods and service tax percentage paid and subject to approval by tax authorities	18.00%	18.00%
Flutter Entertainment Plc [Member] \| Letter Of Guarantee [Member] \| Bank Overdrafts [Member]
Other Commitments [Line Items]
Off balance sheet commitement liability	$ 21					$ 21
Flutter Entertainment Plc [Member] \| Counter Indemnities [Member] \| Bank Guarantee [Member]
Other Commitments [Line Items]
Guarantee obligation maximum exposure	327					322
Claims against the guarantee	0					0
Security deposit	$ 52					$ 29

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

7. EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of the Group’s basic and diluted net earnings (loss) per ordinary share attributable to the Group:


	Three months ended June 30,				Six months ended June 30,
($ in millions except share and per share amounts)		2024	2023			2024	2023
Numerator
Net income (loss)		297	64			120	(47	)
Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests		18	2			22	(7	)
Adjustment of redeemable non-controlling interest to redemption value		18	(5	)		33	(5	)

Net income (loss) attributable to Flutter shareholder – basic and diluted		261	67			65	(35	)


Denominator
Basic weighted average outstanding shares		178	178			178	178
Effective of dilutive stock awards		2	2			2	—
Diluted weighted average outstanding shares		180	180			180	178

Earnings (Loss) per share
Basic		1.47	0.38			0.37	(0.20	)
Diluted		1.45	0.37			0.36	(0.20	)

The number of options excluded from the diluted weighted average number of ordinary share calculation due to their effect being anti-dilutive as the assumed proceeds were greater than the average market price was 458,811 and 462,122 for the three and six months ended June 30, 2024 respectively (2023: 179,280 and 2,329,480 for the three and six months ended June 30,

2023

respectively).

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Aug. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Entity Central Index Key	0001635327
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-37403
Entity Registrant Name	Flutter Entertainment plc
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1782229
Entity Address, Address Line One	290 Park Ave South 14th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10010
City Area Code	646
Local Phone Number	930-0950
Title of 12(b) Security	Ordinary Shares, nominal value of €0.09 per share
Trading Symbol	FLUT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		177,723,653

Earnings (Loss) Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Common Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average number of diluted shares outstanding	458,811	179,280	462,122	2,329,480

Long-Term Debt - Schedule of Group's debt comprised (Detail) € in Millions, £ in Millions, $ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 GBP (£)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 GBP (£)
Debt Instrument [Line Items]
Outstanding Balance	$ 6,851			$ 7,110
Less: unamortized debt issuance costs	(61)			(54)
Total debt	6,790			7,056
Less: current portion of long-term debt	(53)			(51)
Total long-term debt	6,737			7,005
USD First Lien Term Loan B Due 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency	0			514
Outstanding Balance	$ 0			514
Debt Instrument, Maturity Date, Description	2028	2028	2028
EUR First Lien Term Loan B Due 2026 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency \| €		€ 0			€ 507
Outstanding Balance	$ 0			560
Debt Instrument, Maturity Date, Description	2026	2026	2026
GBP First Lien Term Loan A Due 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency \| £			£ 1,034			£ 1,034
Outstanding Balance	$ 1,308			1,315
Debt Instrument, Maturity Date, Description	2028	2028	2028
EUR First Lien Term Loan A Due 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency \| €		€ 380			380
Outstanding Balance	$ 408			419
Debt Instrument, Maturity Date, Description	2028	2028	2028
USD First Lien Term Loan A Due 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency	$ 166			166
Outstanding Balance	$ 166			166
Debt Instrument, Maturity Date, Description	2028	2028	2028
USD First Lien Term Loan B Due 2030 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency	$ 3,895			3,400
Outstanding Balance	$ 3,897			3,400
Debt Instrument, Maturity Date, Description	2030	2030	2030
GBP Revolving Credit Facility Due 2028 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency \| £			£ 0			£ 578
Outstanding Balance	$ 0			736
Debt Instrument, Maturity Date, Description	2028	2028	2028
EUR Senior Secured Notes Due 2029 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency \| €		€ 500			€ 0
Outstanding Balance	$ 541			0
Debt Instrument, Maturity Date, Description	2029	2029	2029
USD Senior Secured Notes Due 2029 [Member]
Debt Instrument [Line Items]
Principal outstanding balance in currency of borrowing Local currency	$ 525			0
Outstanding Balance	$ 531			$ 0
Debt Instrument, Maturity Date, Description	2029	2029	2029

Condensed Consolidated Statements of Changes in Shareholders' Equity and Redeemable Non-Controlling Interests - USD ($) $ in Millions	Total	Redeemable non- controlling interests [Member]	Ordinary share [Member]	Shares held by employee benefit [Member]	Additional paid-in capital [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Retained earnings [Member]	Total Flutter Shareholders' Equity [Member]	Non- controlling interests [Member]
Beginning Balance at Dec. 31, 2022		$ 929
Net income (loss)		(7)
Adjustment of redeemable non-controlling interest to fair value		125
Other comprehensive income / (loss)		24
Balance Ending at Mar. 31, 2023		1,071
Beginning Balance at Dec. 31, 2022	$ 11,191		$ 36	$ (1)	$ 1,192	$ (1,782)	$ 11,590	$ 11,035	$ 156
Beginning Balance , Shares at Dec. 31, 2022			176,091,902	1,396
Net income (loss)	(104)						(102)	(102)	(2)
Adjustment of redeemable non-controlling interest to fair value	(125)						(125)	(125)
Shares issued on exercise of employee share options, Share			330,483
Shares issued on exercise of employee share options, Value	1		$ 0		1			1
Equity-settled transactions – expense recorded in the income statement	32				32			32
Other comprehensive income / (loss)	141					139	0	139	2
Balance Ending at Mar. 31, 2023	11,136		$ 36	$ (1)	1,225	(1,643)	11,363	10,980	156
Balance Ending , shares at Mar. 31, 2023			176,422,385	1,396
Net Income (Loss)	(111)
Beginning Balance at Dec. 31, 2022		929
Other comprehensive income / (loss)	295
Balance Ending at Jun. 30, 2023		1,054
Beginning Balance at Dec. 31, 2022	11,191		$ 36	$ (1)	1,192	(1,782)	11,590	11,035	156
Beginning Balance , Shares at Dec. 31, 2022			176,091,902	1,396
Balance Ending at Jun. 30, 2023	11,145		$ 36	$ (167)	1,283	(1,542)	11,370	10,980	165
Balance Ending , shares at Jun. 30, 2023			176,585,164	826,796
Net Income (Loss)	(47)
Beginning Balance at Mar. 31, 2023		1,071
Net income (loss)		(8)
Adjustment of redeemable non-controlling interest to fair value		60
Acquisition of redeemable non-controlling interests		(95)
Other comprehensive income / (loss)	130	25
Balance Ending at Jun. 30, 2023		1,054
Beginning Balance at Mar. 31, 2023	11,136		$ 36	$ (1)	1,225	(1,643)	11,363	10,980	156
Beginning Balance , Shares at Mar. 31, 2023			176,422,385	1,396
Net income (loss)	72						67	67	5
Adjustment of redeemable non-controlling interest to fair value	(60)						(60)	(60)
Shares issued on exercise of employee share options, Share			162,779
Shares issued on exercise of employee share options, Value	3		$ 0		3			3
Ordinary shares of the Company acquired by the Employee Benefit Trust (Value)	(166)			$ (166)				(166)
Ordinary shares of the Company acquired by the Employee Benefit Trust (Share)				825,400
Equity-settled transactions – expense recorded in the income statement	55				55			55
Other comprehensive income / (loss)	105					101	0	101	4
Balance Ending at Jun. 30, 2023	11,145		$ 36	$ (167)	1,283	(1,542)	11,370	10,980	165
Balance Ending , shares at Jun. 30, 2023			176,585,164	826,796
Net Income (Loss)	64
Beginning Balance at Dec. 31, 2023		1,152
Net income (loss)		15
Adjustment of redeemable non-controlling interest to fair value		216
Acquisition of redeemable non-controlling interests		89
Other comprehensive income / (loss)		(10)
Balance Ending at Mar. 31, 2024		1,462
Beginning Balance at Dec. 31, 2023	10,216		$ 36	$ 0	1,385	(1,483)	10,106	10,044	172
Beginning Balance , Shares at Dec. 31, 2023			177,008,649	0
Net income (loss)	(192)						(196)	(196)	4
Adjustment of redeemable non-controlling interest to fair value	(216)						(216)	(216)
Shares issued on exercise of employee share options, Share			436,546
Shares issued on exercise of employee share options, Value	14		$ 0		14			14
Equity-settled transactions – expense recorded in the income statement	40				40			40
Other comprehensive income / (loss)	(188)					(186)	0	(186)	(2)
Balance Ending at Mar. 31, 2024	9,674		$ 36	$ 0	1,439	(1,669)	9,694	9,500	174
Balance Ending , shares at Mar. 31, 2024			177,445,195	0
Net Income (Loss)	(177)
Beginning Balance at Dec. 31, 2023		1,152
Other comprehensive income / (loss)	(205)
Balance Ending at Jun. 30, 2024		1,432
Beginning Balance at Dec. 31, 2023	10,216		$ 36	$ 0	1,385	(1,483)	10,106	10,044	172
Beginning Balance , Shares at Dec. 31, 2023			177,008,649	0
Balance Ending at Jun. 30, 2024	10,052		$ 36	$ 0	1,503	(1,674)	10,018	9,883	169
Balance Ending , shares at Jun. 30, 2024			177,681,906	0
Net Income (Loss)	120
Beginning Balance at Mar. 31, 2024		1,462
Net income (loss)		33
Adjustment of redeemable non-controlling interest to fair value		(63)
Other comprehensive income / (loss)	(7)	0
Balance Ending at Jun. 30, 2024		$ 1,432
Beginning Balance at Mar. 31, 2024	9,674		$ 36	$ 0	1,439	(1,669)	9,694	9,500	174
Beginning Balance , Shares at Mar. 31, 2024			177,445,195	0
Net income (loss)	264						261	261	3
Adjustment of redeemable non-controlling interest to fair value	63						63	63
Shares issued on exercise of employee share options, Share			236,711
Shares issued on exercise of employee share options, Value	7		$ 0		7			7
Equity-settled transactions – expense recorded in the income statement	57				57			57
Dividend distributed to non-controlling interests	(6)								(6)
Other comprehensive income / (loss)	(7)					(5)	0	(5)	(2)
Balance Ending at Jun. 30, 2024	10,052		$ 36	$ 0	$ 1,503	$ (1,674)	$ 10,018	$ 9,883	$ 169
Balance Ending , shares at Jun. 30, 2024			177,681,906	0
Net Income (Loss)	$ 297

Segments and Disaggregation of Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Group's Segment Information

The following tables present the Group’s segment information:


	Three months ended June 30,				Six months ended June 30,
($ in millions)		2024		2023		2024		2023
Revenue
U.S.
Sportsbook	$	1,099	$	781	$	2,085	$	1,540
iGaming		357		243		715		484
Other		71		73		137		144

U.S. segment revenue		1,527		1,097		2,937		2,168

UKI
Sportsbook		451		401		862		777
iGaming		423		339		829		658
Other		54		49		98		90

UKI segment revenue		928		789		1,789		1,525

International
Sportsbook		197		154		357		335
iGaming		574		540		1,174		1,093
Other		36		32		73		58

International segment revenue		807		726		1,604		1,486

Australia
Sportsbook		349		389		678		740

Australia segment revenue		349		389		678		740

Total reportable segment revenue	$	3,611	$	3,001	$	7,008	$	5,919

Schedule of Revenue by Geographical Market

The information below summarizes revenue by geographical market for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,				Six months ended June 30,
($ in millions)		2024		2023		2024		2023
U.S	$	1,495	$	1,087	$	2,894	$	2,170
UK		848		707		1,630		1,367
Ireland		76		80		153		158
Australia		349		389		678		740
Italy		371		332		736		701
Rest of the world		472		406		917		783

Total revenue	$	3,611	$	3,001	$	7,008	$	5,919

The information below shows the reconciliation of reportable segment Adjusted EBITDA to income (loss) before income taxes for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,						Six months ended June 30,
($ in millions)		2024			2023			2024			2023
UKI	$	293		$	249		$	561		$	455
U.S.		260			172			286			119
International		156			145			329			294
Australia		74			108			157			193

Reportable segment adjusted EBITDA		783			674			1,333			1,061
Unallocated corporate overhead 1		(45	)		(41	)		(81	)		(76	)
Depreciation and amortization		(272	)		(303	)		(569	)		(601	)
Share-based compensation expense		(59	)		(64	)		(100	)		(110	)
Transaction fees and associated costs 2		(16	)		(17	)		(45	)		(20	)
Restructuring and integration costs 3		(22	)		(26	)		(45	)		(47	)
Other (expense) income, net		89			10			(85	)		(35	)
Interest expense, net		(108	)		(82	)		(220	)		(174	)

Income (loss) before income taxes	$	350		$	150		$	188		$	(2	)

1.	Unallocated corporate overhead includes shared technology, research and development, sales and marketing, and general and administrative expenses that are not allocated to specific segments.

Long-Term Debt

6 Months Ended

Jun. 30, 2024

Long-Term Debt, by Current and Noncurrent [Abstract]

Long-Term Debt

12. LONG-TERM DEBT

The Group’s debt comprised of the following:


	As of June 30, 2024					As of December 31, 2023

	Principal outstanding balance in currency of borrowing Local currency (in millions)		Outstanding Balance ($ in millions)			Principal outstanding balance in currency of borrowing Local currency (in millions)		Outstanding Balance ($ in millions)
Term Loan B Agreement
USD First Lien Term Loan B due 2028	$	—		—		$	514		514
EUR First Lien Term Loan B due 2026	€	—		—		€	507		560
TLA/TLB/RCF Agreement
GBP First Lien Term Loan A due 2028	£	1,034		1,308		£	1,034		1,315
EUR First Lien Term Loan A due 2028	€	380		408		€	380		419
USD First Lien Term Loan A due 2028	$	166		166		$	166		166
USD First Lien Term Loan B due 2030	$	3,895		3,897		$	3,400		3,400
GBP Revolving Credit Facility due 2028	£	—		—		£	578		736
Senior secured notes
EUR Senior Secured Notes due 2029	€	500		541		€	—		—
USD Senior Secured Notes due 2029	$	525		531		$	—		—
Total debt principal including accrued interest				6,851					7,110

Less: unamortized debt issuance costs				(61	)				(54	)
Total debt				6,790					7,056
Less: current portion of long-term debt				(53	)				(51	)

Total long-term debt			$	6,737				$	7,005

As of June 30, 2024, the contractual principal repayments of the Group’s outstanding borrowings, excluding accrued interest, amount to the following:


($ in millions)
2024	$	20
2025		39
2026		39
2027		39
2028		1,919
Thereafter		4,780

Total		6,836

During the six months ended June 30, 2024, the Group has drawn $126 million (June 30, 2023: $609 million) and repaid $851 million (June 30, 2023: $687 million) under the GBP revolving credit facility. The Group had an undrawn revolving credit commitment of $1.3 billion (£1 billion) as of June 30, 2024 (December 31, 2023: $537 million (£422 million)), of which $13 million (December 31, 2023: $13 million) was reserved for issuing guarantees.

On March 14, 2024, the Group entered into the First Incremental Assumption Agreement (the “Assumption Agreement”) to the TLA/TLB/RCF Agreement dated as of November 24, 2023 (as amended, the “Credit Agreement”). After giving effect to the Assumption Agreement, the aggregate principal amount of Term B loans outstanding under the Credit Agreement increased by $514 million (the “First Incremental Term B Loans”), which is fungible with the existing Term B loans outstanding under the Credit Agreement. The proceeds of the First Incremental Term B Loans were used to refinance the USD First Term Loan B due 2028. As the terms of First Incremental Term B Loans were not substantially different from those of the original USD First Lien Term Loan B due 2028, the refinance was treated as continuation of the original debt instrument for accounting purposes.

On April 29, 2024, the Group issued $525 million aggregate principal amount of

USD-denominated

senior secured notes due 2029 (the “USD Notes”) and €500 million aggregate principal amount of

EUR-denominated

senior secured notes due 2029 (the “EUR Notes” and, together with the USD Notes, the “Notes”), each issued at 100% of their nominal par value, by its subsidiary Flutter Treasury DAC. The Group used the proceeds of the Notes to repay the EUR First Lien Term Loan B due 2026 under the existing syndicated facility agreement dated July 10, 2018, and to repay borrowings under the GBP Revolving Credit Facility due 2028, and pay certain costs, fees and expenses in connection with the offering of the Notes. The Group incurred issuance costs amounting $13 million in connection with the Notes which has been reduced from the debt’s initial net carrying amount and amortized as additional interest expense over the life of the debt. The Group recognized an extinguishment loss of $5 million on repayment of the EUR First Lien Term Loan B due 2026 during the three and six months ended June 30, 2024.

The USD Notes have interest at a rate of 6.375% per annum and the EUR Notes bear interest at a rate of 5.000% per annum, both payable semi-annually in arrears. The Notes are senior secured obligations and rank pari passu in right of payment with all existing and future senior debt. The Notes are secured on a first-ranking basis by security interests granted over the collateral that also secure, as applicable, the obligations of the Group under the Credit Agreement.

Prior to April 15, 2026, the Group is entitled, at its option, to redeem all or a portion of the Notes at a redemption price equal to 100% of the principal amount of such Notes being redeemed, plus accrued and unpaid interest and additional amounts, if any, to, but excluding the date of the redemption, plus a make-whole premium. In addition, prior to April 15, 2026, the Group is entitled to redeem up to 40% of the aggregate principal amount of each series of Notes using the net cash proceeds from certain equity offerings at a price equal to 106.375% of the principal amount of the USD Notes and 105% of the principal amount of the EUR Notes being redeemed, plus accrued and unpaid interest and additional amounts, if any, to, but excluding the date of the redemption, subject to certain conditions set forth in the Indenture that governs the Notes. Furthermore, at any time prior to April 15, 2026, the Group is entitled, during each twelve month period commencing April 29, 2024, redeem up to 10% of the aggregate principal amount of each series of Notes at a redemption price equal to 103% of the principal amount redeemed, plus accrued and unpaid interest and additional amounts, if any, to, but excluding, the date of redemption. On or after April 15, 2026, the Group may redeem some or all of the Notes at redemption prices as set forth in the Indenture that governs the Notes.

Following repayment of the EUR First Lien Term Loan B due 2026 and the USD First Lien Term Loan B due 2028, the facilities under the Credit Agreement and the Notes are secured by a first priority security interest (subject to permitted liens) (x) in respect of obligors organized or incorporated outside of the United States, over the shares held by an obligor in another obligor and (y) in respect of obligors organized or incorporated in the United States, substantially all of our assets (subject to certain exceptions), in each case, in accordance with the Agreed Guarantee and Security Principles (as defined in the Credit Agreement).

As of June 30, 2024, the Group was in compliance with all debt covenants.

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income / (Loss)

The following tables presents the changes in accumulated other comprehensive income / (loss) by component for the three and six months ended June 30, 2024 and 2023:


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of March 31, 2024	$	3			$ (2	)		$ (1,670	)		$ (1,669	)
Other comprehensive income (loss) before reclassifications		(10	)		1			(8	)		(17	)
Amounts reclassified from accumulated other comprehensive loss		12			—			—			12

Net current period other comprehensive income (loss)		2			1			(8	)		(5	)

Balance as of June 30, 2024	$	5			$ (1	)		$ (1,678	)		$ (1,674	)


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of December 31, 2023	$	(6	)	$	(1	)	$	(1,476	)	$	(1,483	)
Other comprehensive income (loss) before reclassifications		13			—			(202	)		(189	)
Amounts reclassified from accumulated other comprehensive loss		(2	)		—			—			(2	)

Net current period other comprehensive income (loss)		11			—			(202	)		(191	)

Balance as of June 30, 2024	$	5		$	(1	)	$	(1,678	)	$	(1,674	)


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of March 31, 2023	$	5		$	(5	)	$	(1,643	)	$	(1,643	)
Other comprehensive income (loss) before reclassifications		(16	)		—			76			60
Amounts reclassified from accumulated other comprehensive loss		41			—			—			41

Net current period other comprehensive income		25			—			76			101

Balance as of June 30, 2023	$	30		$	(5	)	$	(1,567	)	$	(1,542	)


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of December 31, 2022	$	22		$	(6	)	$	(1,798	)	$	(1,782	)
Other comprehensive income (loss) before reclassifications		(76	)		1			231			156
Amounts reclassified from accumulated other comprehensive loss		84			—			—			84

Net current period other comprehensive income		8			1			231			240

Balance as of June 30, 2023	$	30		$	(5	)	$	(1,567	)	$	(1,542	)

Other (Expense) Income, Net (Tables)

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Schedule of Other Expense, Net

The following table shows the detail of other expense, net for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,						Six months ended June 30,
($ in millions)		2024			2023			2024			2023
Foreign exchange (loss) gain	$	(8	)	$	35		$	(11	)	$	71
Fair value gain on derivative instruments		7			29			22			12
Fair value gain on contingent consideration		3			—			3			—
Loss on settlement of long-term debt		(5	)		—			(5	)		—
Gain (loss) on disposal		1			(1	)		1			(1	)
Fair value (loss) gain on Fox liability		91			(53	)		(93	)		(117	)
Fair value loss on investment		—			—			(2	)		—

Total other (expense) income, net	$	89		$	10		$	(85	)	$	(35	)

Description of Business - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which the entity operates	over 100 countries

Segments and Disaggregation of Revenue - Schedule of Revenue by Geographical Market (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,611	$ 3,001	$ 7,008	$ 5,919
Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	3,611	3,001	7,008	5,919
US [Member]
Disaggregation of Revenue [Line Items]
Total revenue	1,527	1,097	2,937	2,168
US [Member] \| Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	1,495	1,087	2,894	2,170
UK [Member]
Disaggregation of Revenue [Line Items]
Total revenue	928	789	1,789	1,525
UK [Member] \| Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	848	707	1,630	1,367
Ireland [Member] \| Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	76	80	153	158
Australia [Member]
Disaggregation of Revenue [Line Items]
Total revenue	349	389	678	740
Australia [Member] \| Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	349	389	678	740
Italy [Member] \| Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	371	332	736	701
Rest of the World [Member] \| Geographical Disaggregation [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 472	$ 406	$ 917	$ 783

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

+ Details

Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Other Liabilities, Current [Abstract]

Schedule of Other Current Liabilities

Other current liabilities consisted of the following as of June 30, 2024, and December 31, 2023:


($ in millions)	As of June 30, 2024		As of December 31, 2023
Accrued expenses	$	1,006	$	945
Betting duty, data rights, and product and racefield fees		398		453
Employee benefits		260		330
Sports betting open positions		82		119
Derivative financial liabilities		162		156
Current tax payables		108		94
Loss contingencies		74		74
Indirect and payroll taxes		58		155
Deferred consideration		28		—
Contingent consideration		16		—
Total other current liabilities	$	2,192	$	2,326

Schedule of Conract Liability In Relation To Sports Betting Open Positions

The Group includes contract liability in relation to sports betting open positions in the Consolidated Balance Sheet. The contract liability balance was as follows:


	Six months ended June 30,
($ in millions)	2024
Contract liability, beginning of the period		119
Contract liability, end of the period		82

Prepaid Expenses and Other Current Assets

6 Months Ended

Jun. 30, 2024

Prepaid Expense and Other Assets, Current [Abstract]

Prepaid Expenses and Other Current Assets

9. PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the following as of June 30, 2024, and December 31, 2023:


($ in millions)	As of June 30, 2024		As of December 31, 2023
Prepayments and accrued income	$	250	$	205
Derivative financial assets		27		—
Current tax receivable		46		59
Inventory		14		13
Other receivables		104		166

Total prepaid expenses and other current assets	$	441	$	443

Derivatives - Schedule of the Fair Value of Derivatives Assets and Liabilities (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative Assets, Total derivatives designated as cash flow hedges	$ 6	$ 0
Derivative Assets, Total derivatives designated as hedging instrument	6	0
Derivative Assets, Total derivatives not designated as hedging instruments	15	0
Total derivatives assets	27	0
Derivative Liabilities, Total derivatives designated as cash flow hedges	(112)	(125)
Derivative Liabilities, Total derivatives designated as hedging instrument	0	(1)
Derivative Liabilities, Total derivatives not designated as hedging instruments	(53)	(52)
Total derivatives liabilities	(165)	(178)
Other non-current assets [Member] \| Cross-currency interest swaps [Member]
Derivative [Line Items]
Derivative Assets, Total derivatives designated as cash flow hedges	0	0
Prepaid expenses and other current assets [Member] \| Cross-currency interest swaps [Member]
Derivative [Line Items]
Derivative Assets, Total derivatives designated as cash flow hedges	0	0
Derivative Assets, Total derivatives designated as hedging instrument	6	0
Derivative Assets, Total derivatives not designated as hedging instruments	15	0
Prepaid expenses and other current assets [Member] \| Interest rate swaps [Member]
Derivative [Line Items]
Derivative Assets, Total derivatives designated as cash flow hedges	6	0
Other current liabilities [Member] \| Cross-currency interest swaps [Member]
Derivative [Line Items]
Derivative Liabilities, Total derivatives designated as cash flow hedges	(109)	(104)
Derivative Liabilities, Total derivatives not designated as hedging instruments	(53)	(52)
Other non-current liabilities [Member] \| Cross-currency interest swaps [Member]
Derivative [Line Items]
Derivative Liabilities, Total derivatives designated as cash flow hedges	(3)	(21)
Derivative Liabilities, Total derivatives designated as hedging instrument	0	(1)
Other non-current liabilities [Member] \| Interest rate swaps [Member]
Derivative [Line Items]
Derivative Liabilities, Total derivatives designated as cash flow hedges	$ 0	$ 0

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

16. COMMITMENTS AND CONTINGENCIES

Guarantees

The Group has uncommitted working capital overdraft facilities as of June 30, 2024 of $21 million (December 31, 2023: $21 million) with Allied Irish Banks p.l.c. These facilities are secured by a Letter of Guarantee from Flutter Entertainment plc.

The Group has bank guarantees: (i) in favor of certain gaming regulatory authorities to guarantee the payment of player funds, player prizes, and certain taxes and fees due by a number of Group companies; and (ii) in respect of certain third-party rental and other property commitments, merchant facilities and third-party letter of credit facilities. The maximum amount of the guarantees as of June 30, 2024 was $327 million (December 31, 2023: $322 million). No claims had been made against the guarantees as of June 30, 2024 (December 31, 2023: $0). The guarantees are secured by counter indemnities from Flutter Entertainment plc and certain of its subsidiary companies. The value of cash deposits over which the guaranteeing banks hold security was $52 million as of June 30, 2024 (December 31, 2023: $29 million).

Other purchase obligations

The Group is a party to several

non-cancelable

contracts with vendors where the Group is obligated to make future minimum payments under the terms of these contracts as follows:


($ in millions)	As of June 30, 2024
From June 30, 2024 to December 31, 2024	$	508
2025		788
2026		491
2027		321
2028		176
Thereafter		460

	$	2,744

Legal Contingencies

The Group is involved, from time to time, in various litigation, administrative and other legal proceedings, including regulatory actions, incidental or related to its business. The Group establishes an accrued liability for legal claims and indemnification claims when the Group determines that a loss is both probable and the amount of the loss can be reasonably estimated. The estimates are based on all known facts at the time and our assessment of the ultimate outcome. As additional information becomes available, the Group reassesses the potential liability related to our pending claims and litigation, which may also revise our estimates. The amount of any loss ultimately incurred in relation to these matters may be higher or lower than the amounts accrued. Due to the unpredictable nature of litigation, there can be no assurance that our accruals will be sufficient to cover the extent of our potential exposure to losses. Any fees, expenses, fines, penalties, judgments, or settlements which might be incurred by us in connection with the various proceedings could affect our results of operations and financial condition.

Austrian and German player claims

As previously reported, the Group has seen a number of player claims in Austria and Germany for reimbursement of historic gaming losses. The basis of these claims is rooted in the Group having provided remote services in Austria and Germany (outside of Schleswig-Holstein) from Maltese entities on the basis of multi-jurisdictional Maltese licenses, which the Group continues to believe is compliant in accordance with EU law. However, the Austrian Courts and certain German Courts consider the Group’s services

non-compliant

with their respective local laws. The Group strongly disputes the basis of these claims and judgements made by Austrian and German courts in awarding the player’s claims.

As of June 30, 2024, the Group expects to settle claims amounting to €13 million ($14 million) and has recognized an accrued liability within loss contingencies forming part of other current liabilities. It is reasonably possible that the actual losses could be in excess of the Group’s accrual. The Group is unable to estimate a reasonably possible loss or range of loss in excess of its accrual due to the complexities and uncertainty around the judicial process. In addition, there are further claims made against the Group amounting to €43 million ($46 million) as of June 30, 2024, the settlement of which is predicated on the merits of the case and whether the enforcement proceedings are successful in laying claim over the Group’s Maltese assets for settlement of these claims. The Group, based on advice from its legal counsel, believes such cross-border enforcement of judgements is in contravention to Maltese public policy and Regulation (EU) 1215/2012 and has not accrued any liability for these claims. The Group has filed countersuits before the Maltese Civil Court for setting aside these claims. The defendants have also filed garnishee orders with the Maltese Civil Court to attach the Group’s Maltese assets, some of which have already been declined by the Maltese Civil Court. Should the Maltese Courts decide in favor of the Group, there would be grounds for dismissal of all pending player claims instituted against the Group.

While the Group believes that it has strong arguments, at this time, the Group is unable to reasonably estimate the likelihood of the outcome due to the complexities and uncertainty around the judicial process.

Tax dispute in relation to operations in Italy

As previously reported, the Italian Tax Police initiated an investigation of the operations conducted by PokerStars business in Italy (hereinafter referred to as ‘PS Italy’), alleging that PS Italy’s server infrastructure located in Italy amounts to an Italian permanent establishment for corporate tax purposes. As of June 30, 2024, the Group has fully settled this tax dispute with the Italian Tax Authorities for an amount of €8 million ($9 million).

Goods and Services Tax (“GST”) rate applicable to operations in India

As previously reported, India’s Directorate General of Goods & Services Tax (the “DGGI”) is currently investigating the historical characterization of products such as rummy, fantasy games and poker as ‘games of skill’ (subjects to tax of

% on player commission) rather than ‘games of chance’ (subject to

% tax on player stakes). In making GST returns, Junglee and PokerStars India have consistently followed the Supreme Court of India’s rulings in relation to the distinction between games of skill and games of chance.

The DGGI has issued notices to multiple online gaming businesses alleging historical underpayment of GST, including to the Group’s operations in India (Junglee) of

₹

179.1

billion ($

2.1

billion). Junglee disputes that any additional tax is payable and has been advised that the notice received is not in accordance with the GST provisions applicable to past periods.

As of the date of issue of these unaudited condensed financial statements, Junglee is in the process of filing a petition with the Supreme Court of India, with the intention of joining its case to the cases of other online gaming operators pending at the Supreme Court of India. The lead case (The Directorate General of GST Intelligence vs. Gameskraft Technologies Private Limited) was ruled in favor of Gameskraft, the taxpayer, at the Karnataka High Court in May 2023, and found that taxes had been paid in accordance with the law, but the case remains unresolved at the Supreme Court of India.

On June 22, 2024, a meeting of India’s Goods and Services Tax Council (the “GST Council”) (a constitutional body responsible for the formation and recommendation of GST law changes, held by the Supreme Court of India to be the ultimate authority on the GST issues), recommended amending the GST law to empower the Indian Central Government, on the recommendation of the GST Council, to waive any historical taxes not paid, where the common trade practice was either:

1.	not to subject the goods or services to tax, or

2.	to subject the goods or services to a lower tax rate than what is now being suggested by the DGGI.

The recommendation of the GST Council has been incorporated into the Finance Bill (the “Bill”) and is expected to be enacted during the third quarter of 2024.

Whilst the proposed law is not industry specific, if enacted and recommended by the GST Council to be applied to the online gaming industry, we would expect the

% GST already paid on commissions for past periods to be accepted as the applicable tax rate and the litigation will cease.

As of the date of issue of the unaudited condensed consolidated financial statements, no liability has been accrued as the Group has determined that it is not probable that a liability has been incurred considering the progress of the cases pending at the Supreme Court of India, decisions of the State High Courts in favor of the industry, the arguments of legal counsel representing the industry and the opinion of the Group’s own legal counsel.

The Group is unable to make an estimate of any reasonably possible loss or range of

losses

, if any, were there to be an adverse final decision in the cases pending before the Supreme Court of India associated with the notice received.

Others

During the three months ended June 30, 2024, no additional information has become available that would cause the Group to reassess the potential liability related to the Group’s pending claims and litigation in relation to the Group’s cybersecurity incident as disclosed in our 2023 Annual Report.

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Examination [Line Items]
Effective income tax rate reconciliation, percent, total	15.10%	57.30%	36.00%	2250.00%
Unrecognized tax benefits			$ 0
Organization For Economic Cooperation And Development [Member]
Income Tax Examination [Line Items]
Global minimum corporate tax			15.00%
Her Majesty's Revenue and Customs (HMRC) [Member]
Income Tax Examination [Line Items]
Statutory tax rate percentage			12.50%

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	17. SUBSEQUENT EVENTS The Group evaluated subsequent events through the date of issuance of the unaudited condensed consolidated financial statements. There were no events requiring disclosure.

Derivatives - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Derivative [Line Items]
Notional amount	$ 1,089		$ 1,089		$ 1,094
Interest rate cash flow hedge gain (loss) reclassified to earnings, net	12	$ 41	84	$ 2
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net			5
Other comprehensive income (loss), net investment hedge, gain (loss), reclassification, before tax	0	0
Net Investment Hedging [Member]
Derivative [Line Items]
Gain (loss) on foreign currency derivatives recorded in earnings, net	(50)	$ 8	29	$ 12
Term Loan A [Member] \| Net Investment Hedging [Member]
Derivative [Line Items]
Interest rate cash flow hedge derivative at fair value, net			408
EUR Senior Notes [Member] \| Net Investment Hedging [Member]
Derivative [Line Items]
Interest rate cash flow hedge derivative at fair value, net			500
EUR Term Loan [Member] \| Net Investment Hedging [Member]
Derivative [Line Items]
Interest rate cash flow hedge derivative at fair value, net					980
Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Notional amount	1,595		1,595		1,603
Cross Currency Interest Rate Contract [Member] \| USD Senior Secured Notes Due 2029 [Member]
Derivative [Line Items]
Notional amount	525		$ 525		0
Derivatives maturity date			Apr. 15, 2026
Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member]
Derivative [Line Items]
Notional amount	$ 347		$ 347		$ 359
Minimum [Member]
Derivative [Line Items]
Derivatives maturity date			Sep. 30, 2024
Minimum [Member] \| Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivatives maturity date			Sep. 30, 2024
Maximum [Member]
Derivative [Line Items]
Derivatives maturity date			Jun. 30, 2025
Maximum [Member] \| Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivatives maturity date			Jun. 30, 2025

Segments and Disaggregation of Revenue - Schedule of Group's Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	$ 3,611	$ 3,001	$ 7,008	$ 5,919
US [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	1,527	1,097	2,937	2,168
GB [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	928	789	1,789	1,525
International segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	807	726	1,604	1,486
AU [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	349	389	678	740
Sportsbook [Member] \| US [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	1,099	781	2,085	1,540
Sportsbook [Member] \| GB [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	451	401	862	777
Sportsbook [Member] \| International segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	197	154	357	335
Sportsbook [Member] \| AU [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	349	389	678	740
iGaming [Member] \| US [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	357	243	715	484
iGaming [Member] \| GB [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	423	339	829	658
iGaming [Member] \| International segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	574	540	1,174	1,093
Other [Member] \| US [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	71	73	137	144
Other [Member] \| GB [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	54	49	98	90
Other [Member] \| International segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total reportable segment revenue	$ 36	$ 32	$ 73	$ 58

- Definition

+ References

+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	6. INCOME TAXES For interim income tax reporting the Group estimates its annual effective tax rate and applies it to its year-to-date ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about beginning of year valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Group’s effective income tax rate was a provision of 15.1% on profit before income taxes for the three months ended June 30, 2024 (provision of 57.3% on profit before income taxes for the three months ended June 30, 2023) and was a provision of 36.0% on profit before income taxes for the six months ended June 30, 2024 (provision of 2,250.0% on loss before income taxes for the six months ended June 30, 2023). The difference in the effective income tax rate compared to the Irish corporation trading tax rate of 12.5% primarily reflects the tax impact of the impact of amortization of acquired intangibles and profit mix across jurisdictions, as well as the tax impact of discrete adjustments which includes our loss making jurisdictions and the fair value loss on Fox Option Liability. The Group does not expect there to be any material changes to its existing unrecognized tax benefits over the next 12 months, due to the current position with taxing authorities. The Group regularly reviews its tax position on the basis of current law. The Organization for Economic Cooperation and Development (OECD) is coordinating negotiations to implement a global minimum corporate tax of 15% for companies with global revenues and profits above certain thresholds (referred to as Pillar 2). Certain aspects of Pillar 2 became effective from January 1, 2024 and other aspects are effective from January 1, 2025. The Group does not expect Pillar 2 to have a material impact on its effective tax rate, however as this legislation is enacted in jurisdictions in which the Group operates, transitional rules lapse, and other provisions of Pillar 2 become effective, we expect that our effective tax rate and cash tax payments may increase in future years. Under US GAAP, the OECD Pillar 2 rules are considered an alternative minimum tax and therefore deferred taxes would not be recognized or adjusted for the estimated effects of the future minimum tax.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Other Purchase Obligations

The Group is a party to several

non-cancelable

contracts with vendors where the Group is obligated to make future minimum payments under the terms of these contracts as follows:


($ in millions)	As of June 30, 2024
From June 30, 2024 to December 31, 2024	$	508
2025		788
2026		491
2027		321
2028		176
Thereafter		460

	$	2,744

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of the Group's financial assets, financial liabilities and redeemable non-controlling interests

The following tables set forth the fair value of the Group’s financial assets, financial liabilities and redeemable

non-controlling

interests measured at fair value based on the three-tier fair value hierarchy:


	As of June 30, 2024
($ in millions)	Level 1			Level 2			Level 3			Total
Financial assets measured at fair value:
Available for sale – Player deposits – investments		$	157		$	17		$	—		$	174
Equity securities - Investments			—			—			7			7
Derivative financial assets			—			27			—			27

Total			157			44			7			208

Financial liabilities measured at fair value:
Derivative financial liabilities			—			165			—			165
Fox Option liability			—			—			490			490
Contingent consideration			—			—			16			16

Total			—			165			506			671

Redeemable non-controlling interests at fair value		$	—		$	—		$	1,251		$	1,251


	As of December 31, 2023
($ in millions)	Level 1		Level 2		Level 3		Total
Financial assets measured at fair value:
Available for sale – Player deposits – investments	$	33	$	139	$	—	$	172
Equity securities - Investments		—		—		9		9

Total		33		139		9		181

Financial liabilities measured at fair value:
Derivative financial liabilities		—		178		—		178
Fox Option liability		—		—		400		400
Contingent consideration		—		—		20		20

Total		—		178		420		598

Redeemable non-controlling interests at fair value	$	—	$	—	$	1,100	$	1,100
PokerStars trademark held and used 1	$	—	$	—	$	368	$	368


Total nonrecurring fair value measurement		—		—	$	368	$	368

In accordance with subtopic

360-10,

Schedule of financial assets and liabilities carried at fair value

The movements in respect of the financial assets and liabilities carried at fair value are as follows:


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of March 31, 2024	$	(19	)	$	7	$	(580	)	$	(592	)	$	(1,304	)
Total gains or losses for the period:
Included in earnings		3			—		91			94			—
Included in other comprehensive income		—			—		(1	)		(1	)		—
Attribution of net loss and other comprehensive income:
Net income attributable to redeemable non-controlling interest		—			—		—			—			(7	)
Other comprehensive income attributable to redeemable non-controlling interest		—			—		—			—			—
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			63

Balance as of June 30, 2024		(16	)		7		(490	)		(499	)		(1,248	)

Change in unrealized gains or losses for the period included in earnings		3			—		91			94			—

Change in unrealized gains or losses for the period included in other comprehensive income	$	—		$	—	$	(1	)	$	(1	)	$	—


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of December 31, 2023	$	(20)		$	9	$	(400)		$	(411)		$	(1,100	)
Total gains or losses for the period:
Included in earnings		3			(2)		(93)			(92)			—
Included in other comprehensive income		1			—		3			4			—
Attribution of net loss and other comprehensive income:
Net income attributable to redeemable non-controlling interest		—			—		—			—			(6)
Other comprehensive loss attributable to redeemable non-controlling interest		—			—		—			—			11
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			(153)

Balance as of June 30, 2024		(16)			7		(490)			(499)			(1,248)

Change in unrealized gains or losses for the period included in earnings		3			(2)		(93)			(92)			—

Change in unrealized gains or losses for the period included in other comprehensive income	$	1		$	—	$	3		$	4		$	—


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of March 31, 2023	$	(20	)	$	11	$	(290	)	$	(299	)	$	(919	)
Total gains or losses for the period:
Included in earnings		—			—		(53	)		(53	)		—
Included in other comprehensive income		—			—		(7	)		(7	)		—
Attribution of net loss and other comprehensive income:
Net loss attributable to redeemable non-controlling interest		—			—		—			—			1
Other comprehensive income attributable to redeemable non-controlling interest		—			—		—			—			(27	)
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			(60	)

Balance as of June 30, 2023		(20	)		11		(350	)		(359	)		(1,005	)

Change in unrealized gains or losses for the period included in earnings		—			—		(53	)		(53	)		—

Change in unrealized gains or losses for the period included in other comprehensive income	$	—		$	—	$	(7	)	$	(7	)	$	—


($ in millions)	Contingent consideration			Equity securities		Fox option liability			Total			Redeemable non- controlling interest at fair value
Balance as of December 31, 2022	$	(22	)	$	11	$	(220	)	$	(231	)	$	(781	)
Total gains or losses for the period:
Included in earnings		—			—		(117)			(117)			—
Included in other comprehensive income		2			—		(13)			(11)			—
Attribution of net loss and other comprehensive income:
Net loss attributable to redeemable non-controlling interest		—			—		—			—			5
Other comprehensive income attributable to redeemable non-controlling interest		—			—		—			—			(44)
Acquisitions and settlements:
Adjustment of redeemable non-controlling interest at redemption at fair value		—			—		—			—			(185)

Balance as of June 30, 2023		(20)			11		(350)			(359)			(1,005)

Change in unrealized gains or losses for the period included in earnings		—			—		(117)			(117)			—

Change in unrealized gains or losses for the period included in other comprehensive income	$	2		$	—	$	(13)		$	(11)		$	—

Changes in Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income / (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Unrealized Gains and Losses on Available-for-Sale Debt securities Beginning balance			$ 10,044
Total, Beginning balance			(1,483)
Unrealized Gains and Losses on Available-for-Sale Debt securities, Ending balance	$ 9,883		9,883
Total, Ending balance	(1,674)		(1,674)
Gains and losses on Cash Flow Hedges [Member]
Class of Stock [Line Items]
Gains and losses on Cash Flow Hedges, Beginning balance	3	$ 5	(6)	$ 22
Other comprehensive income (loss) before reclassifications	(10)	(16)	13	(76)
Amounts reclassified from accumulated other comprehensive income	12	41	(2)	84
Net current period other comprehensive income (loss)	2	25	11	8
Gains and losses on Cash Flow Hedges, Ending balance	5	30	5	30
Unrealized Gains and Losses on Available-for- Sale Debt securities [Member]
Class of Stock [Line Items]
Unrealized Gains and Losses on Available-for-Sale Debt securities Beginning balance	2	(5)	(1)	(6)
Other comprehensive income (loss) before reclassifications	1	0	0	1
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current period other comprehensive income (loss)	1	0	0	1
Unrealized Gains and Losses on Available-for-Sale Debt securities, Ending balance	(1)	(5)	(1)	(5)
Foreign Currency Items [Member]
Class of Stock [Line Items]
Foreign Currency Items, Beginning balance	1,670	(1,643)	(1,476)	(1,798)
Other comprehensive income (loss) before reclassifications	(8)	76	(202)	231
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current period other comprehensive income (loss)	(8)	76	(202)	231
Foreign Currency Items, Ending balance	(1,678)	(1,567)	(1,678)	(1,567)
Total Accumulated Other Comprehensive Income (Loss) [Member]
Class of Stock [Line Items]
Total, Beginning balance	1,669	(1,643)	(1,483)	(1,782)
Other comprehensive income (loss) before reclassifications	(17)	60	(189)	156
Amounts reclassified from accumulated other comprehensive income	12	41	(2)	84
Net current period other comprehensive income (loss)	(5)	101	(191)	240
Total, Ending balance	$ (1,674)	$ (1,542)	$ (1,674)	$ (1,542)

Condensed Consolidated Balance Sheets (Parenthetical)	Jun. 30, 2024 shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2023 € / shares shares
Statement of Financial Position [Abstract]
Common stock shares authorized	300,000,000	300,000,000	300,000,000
Common stock par or stated value per share \| (per share)		$ 0.1	€ 0.09
Common stock shares issued	177,681,906	177,008,649	177,008,649
Common stock shares held by employee benefit trust	0	0	0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 120	$ (47)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	569	601
Change in fair value of derivatives	(22)	(12)
Non-cash interest expense, net	16	(4)
Non-cash operating lease expense	65	67
Foreign currency exchange loss (gain)	10	(224)
(Gain) loss on disposal	(1)	1
Share-based compensation – equity classified	97	87
Share-based compensation – liability classified	3	21
Other expenses (net)	95	117
Deferred taxes	(83)	(192)
Loss on extinguishment	5	0
Change in contingent consideration	(3)	0
Change in operating assets and liabilities:
Player deposits	(2)	(5)
Accounts receivable	16	47
Other assets	32	(59)
Accounts payable	(46)	17
Other current liabilities	(155)	101
Player deposit liability	14	(462)
Operating leases liabilities	(70)	(62)
Net cash provided by (used in) operating activities	660	(8)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(50)	(49)
Purchases of intangible assets	(97)	(79)
Capitalized software	(157)	(135)
Acquisitions, net of cash acquired	(132)	0
Net cash used in investing activities	(436)	(263)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of common stock upon exercise of options	21	4
Proceeds from issuance of long-term debt (net of transactions costs)	1,684	613
Repayment of long-term debt	(1,929)	(711)
Dividend distributed to non-controlling interests	(6)	0
Repurchase of common stock	0	(166)
Net cash used in financing activities	(230)	(260)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(6)	(531)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period	3,271	2,990
Foreign currency exchange (loss) gain on cash and cash equivalents	(30)	139
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period:	3,235	2,598
CASH, CASH EQUIVALENTS AND RESTRICTED CASH comprise of:
Cash and cash equivalents	1,526	1,020
Cash and cash equivalents - restricted	25	15
Player deposits - cash & cash equivalents	1,684	1,563
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period:	3,235	2,598
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	231	210
Income taxes paid	115	170
Operating cash flows from operating leases	81	70
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Right of use assets obtained in exchange for new operating lease liabilities	74	40
Adjustments to lease balances as a result of remeasurement.	(3)	10
Business acquisitions (including contingent consideration)	$ 28	$ 0

Other (Expense) Income, Net

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Other (Expense) Income, Net

4. OTHER (EXPENSE) INCOME, NET

The following table shows the detail of other expense, net for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,						Six months ended June 30,
($ in millions)		2024			2023			2024			2023
Foreign exchange (loss) gain	$	(8	)	$	35		$	(11	)	$	71
Fair value gain on derivative instruments		7			29			22			12
Fair value gain on contingent consideration		3			—			3			—
Loss on settlement of long-term debt		(5	)		—			(5	)		—
Gain (loss) on disposal		1			(1	)		1			(1	)
Fair value (loss) gain on Fox liability		91			(53	)		(93	)		(117	)
Fair value loss on investment		—			—			(2	)		—

Total other (expense) income, net	$	89		$	10		$	(85	)	$	(35	)

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation — These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting and the rules and regulations of the SEC. As such, certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Group’s audited consolidated financial statements as of and for the year ended December 31, 2023. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Group’s consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on March 26, 2024 (the “2023 Annual Report”). These condensed consolidated financial statements are unaudited; however, in the opinion of management, they include all normal and recurring adjustments necessary for a fair presentation of the Group’s unaudited condensed consolidated financial statements for the periods presented. Results of operations reported for interim periods are not necessarily indicative of results for the entire year, due to seasonal fluctuations in the Group’s revenue as a result of the timing of various sports seasons, sporting events and other factors.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted In January 2024, the Group adopted Accounting Standards Update ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance in Accounting Standards Codification Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions and Leases (Topic 842): Common Control Arrangements (ASU 2023-01), which requires leasehold improvements associated with common control leases to be amortized over the useful life to the common control group. The new standards did not have material impact on the Group’s unaudited condensed consolidated financial statements.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. This ASU is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, with early adoption permitted. While the Group is continuing to assess the timing of adoption and the potential impacts of ASU 2023-07, it does not expect ASU 2023-07 to have a material effect, if any, on its consolidated financial statements. In March 2024, the FASB issued ASU 2024-01, Compensation – Stock Compensation (Topic 718): which clarifies how an entity determines whether a profit interest or similar award is (1) within the scope of ASC 718 or (2) not a share-based payment arrangement and therefore within the scope of other guidance. The ASU’s amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years with early adoption permitted. While the Group is continuing to assess the timing of adoption and the potential impacts of ASU 2024-01, it does not expect ASU 2024-01 to have a material effect on the Group’s consolidated financial condition, results of operations or cash flows.

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2024

Long-Term Debt, by Current and Noncurrent [Abstract]

Schedule of Group's debt comprised

The Group’s debt comprised of the following:


	As of June 30, 2024					As of December 31, 2023

	Principal outstanding balance in currency of borrowing Local currency (in millions)		Outstanding Balance ($ in millions)			Principal outstanding balance in currency of borrowing Local currency (in millions)		Outstanding Balance ($ in millions)
Term Loan B Agreement
USD First Lien Term Loan B due 2028	$	—		—		$	514		514
EUR First Lien Term Loan B due 2026	€	—		—		€	507		560
TLA/TLB/RCF Agreement
GBP First Lien Term Loan A due 2028	£	1,034		1,308		£	1,034		1,315
EUR First Lien Term Loan A due 2028	€	380		408		€	380		419
USD First Lien Term Loan A due 2028	$	166		166		$	166		166
USD First Lien Term Loan B due 2030	$	3,895		3,897		$	3,400		3,400
GBP Revolving Credit Facility due 2028	£	—		—		£	578		736
Senior secured notes
EUR Senior Secured Notes due 2029	€	500		541		€	—		—
USD Senior Secured Notes due 2029	$	525		531		$	—		—
Total debt principal including accrued interest				6,851					7,110

Less: unamortized debt issuance costs				(61	)				(54	)
Total debt				6,790					7,056
Less: current portion of long-term debt				(53	)				(51	)

Total long-term debt			$	6,737				$	7,005

Schedule of Contractual Principal Repayments

As of June 30, 2024, the contractual principal repayments of the Group’s outstanding borrowings, excluding accrued interest, amount to the following:


($ in millions)
2024	$	20
2025		39
2026		39
2027		39
2028		1,919
Thereafter		4,780

Total		6,836

Other (Expense) Income, Net - Schedule of Other Expense, Net (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Foreign exchange (loss) gain	$ (8)	$ 35	$ (11)	$ 71
Fair value gain on derivative instruments	7	29	22	12
Fair value gain on contingent consideration	3	0	3	0
Loss on settlement of long-term debt	(5)	0	(5)	0
Gain (loss) on disposal	1	(1)	1	(1)
Fair value (loss) gain on Fox liability	91	(53)	(93)	(117)
Fair value loss on investment	0	0	(2)	0
Total other (expense) income, net	$ 89	$ 10	$ (85)	$ (35)

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References + Details

Changes in Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss)

8. CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables presents the changes in accumulated other comprehensive income / (loss) by component for the three and six months ended June 30, 2024 and 2023:


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of March 31, 2024	$	3			$ (2	)		$ (1,670	)		$ (1,669	)
Other comprehensive income (loss) before reclassifications		(10	)		1			(8	)		(17	)
Amounts reclassified from accumulated other comprehensive loss		12			—			—			12

Net current period other comprehensive income (loss)		2			1			(8	)		(5	)

Balance as of June 30, 2024	$	5			$ (1	)		$ (1,678	)		$ (1,674	)


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of December 31, 2023	$	(6	)	$	(1	)	$	(1,476	)	$	(1,483	)
Other comprehensive income (loss) before reclassifications		13			—			(202	)		(189	)
Amounts reclassified from accumulated other comprehensive loss		(2	)		—			—			(2	)

Net current period other comprehensive income (loss)		11			—			(202	)		(191	)

Balance as of June 30, 2024	$	5		$	(1	)	$	(1,678	)	$	(1,674	)


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of March 31, 2023	$	5		$	(5	)	$	(1,643	)	$	(1,643	)
Other comprehensive income (loss) before reclassifications		(16	)		—			76			60
Amounts reclassified from accumulated other comprehensive loss		41			—			—			41

Net current period other comprehensive income		25			—			76			101

Balance as of June 30, 2023	$	30		$	(5	)	$	(1,567	)	$	(1,542	)


($ in millions)	Gains and loss on Cash Flow Hedges			Unrealized Gains and Losses on Available- for- Sale Debt securities			Foreign Currency Translation, net of Net Investment Hedges			Total
Balance as of December 31, 2022	$	22		$	(6	)	$	(1,798	)	$	(1,782	)
Other comprehensive income (loss) before reclassifications		(76	)		1			231			156
Amounts reclassified from accumulated other comprehensive loss		84			—			—			84

Net current period other comprehensive income		8			1			231			240

Balance as of June 30, 2023	$	30		$	(5	)	$	(1,567	)	$	(1,542	)

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 26, 2024
Share Based Payment Arrangement [Line Items]
Employee benefits and share-based compensation	$ 59	$ 64	$ 100	$ 110
Allocated share based compensation	$ 59	$ 64	$ 100	$ 110
Flutter Entertainment Two Thousand And Fifteen Deferred Share Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares	52,902
Flutter Entertainment Plc Two Thousand And Sixteen Restricted Share Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares	792,246	469,084
Share based compensation by share based award weighted average fair value of options granted during the period				$ 171.53
Flutter Entertainment Plc Two Thousand And Sixteen Restricted Share Incentive Plan [Member] \| Weighted Average Fair Value Of Options Granted One Hundred And Ninety Four Point Zero Eight Dollars Per Share [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares	594,727
Share based compensation by share based award weighted average fair value of options granted during the period	$ 194.08
Flutter Entertainment Plc Two Thousand And Twenty Two Supplementary Restricted Share Plan [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares	7,466
Flutter Entertainment Plc Two Thousand And Twenty Three Long Term Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares	45,733
Share based compensation by share based payment award weighted average volatility rate	39.94%
Share based compensation by share based payment award weighted average fair value of options granted	$ 62.14
Flutter Entertainment Plc Two Thousand And Twenty Three Long Term Incentive Plan [Member] \| Weighted Average [Member]
Share Based Payment Arrangement [Line Items]
Share price	$ 180.7		$ 180.7
Two Thousand And Twenty Four Omnibus Equity Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Common stock shares reserved for future issuance					1,770,000
Other Employee Share Schemes [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares		7,813		34,419
Share based compensation by share based award weighted average fair value of options granted during the period		$ 214.77		$ 163.75
Restricted Stock Units (RSUs) [Member]
Share Based Payment Arrangement [Line Items]
Share-based compensation arrangement by share-based payment award, options, outstanding, number	3,963,314		3,963,314
Share based compensation by share based award weighted average fair value of options granted during the period	$ 200.14		$ 200.14
Restricted Stock Units (RSUs) [Member] \| Flutter Entertainment Plc Two Thousand And Sixteen Restricted Share Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Share based compensation by share based payment award weighted average fair value of options granted		$ 519,212		$ 171.53
Restricted Stock Units (RSUs) [Member] \| Other Employee Share Schemes [Member]
Share Based Payment Arrangement [Line Items]
Share based compensation by share based award equity instruments other than options granted during the period		7,813		34,419
Award Based On Total Shareholder Return Performance Based On S And P Five Hundred Index [Member] \| Flutter Entertainment Plc Two Thousand And Sixteen Restricted Share Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares	197,519
Share based compensation by share based payment award weighted average volatility rate	35.58%
Share based compensation by share based payment award weighted average fair value of options granted	$ 73.98
Award Based On Total Shareholder Return Performance Based On S And P Five Hundred Index [Member] \| Flutter Entertainment Plc Two Thousand And Sixteen Restricted Share Incentive Plan [Member] \| Weighted Average [Member]
Share Based Payment Arrangement [Line Items]
Share price on grant date	196.7
Deferred Compensation, Share-Based Payments [Member]
Share Based Payment Arrangement [Line Items]
Share based compensation by share based award weighted average fair value of options granted during the period	$ 207.7		$ 207.7
Award Based On Total Shareholder Return Relative To FTSE One Hundred [Member] \| Flutter Entertainment Plc Two Thousand And Twenty Three Long Term Incentive Plan [Member]
Share Based Payment Arrangement [Line Items]
Share compensation by share based award options granted during the period shares		44,820
Share based compensation by share based payment award weighted average volatility rate		35.91%
Share price		$ 199.22		$ 199.22
Share based compensation by share based payment award vesting period		3 years
Share based compensation by share based award optinos granted for which performance conditions have not yet been determined		134,460		134,460
Allocated share based compensation		$ 0
Award Based On Total Shareholder Return Relative To FTSE One Hundred [Member] \| Flutter Entertainment Plc Two Thousand And Twenty Three Long Term Incentive Plan [Member] \| Weighted Average [Member]
Share Based Payment Arrangement [Line Items]
Share based compensation by share based payment award weighted average fair value of options granted		$ 111.6

Share-Based Compensation	6 Months Ended
Share-Based Compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	14. SHARE-BASED COMPENSATION During the three and six months ended June 30, 2024, the Group granted 52,902 options under the Flutter Entertainment plc 2015 Deferred Share Incentive Plan at the weighted average grant date fair value of $ 207.70 and, 7,466 options under the Flutter Entertainment plc 2022 Supplementary Restricted Share Plan at the weighted average grant date fair value of $ 200.14 . The fair value of the options granted was based on the quoted trading price of the Group’s share on the date of the grant. In the three and six months ended June 30, 2024, 792,246 options were also granted under the Flutter Entertainment plc 2016 Restricted Share Plan. Of the options awarded under the Flutter Entertainment plc 2016 Restricted Share Plan, 197,519 options have a market condition based on the Total Shareholder Return (TSR) relative to the TSR performance of the S&P 500 equity index. This market condition was directly factored into the fair value-based measure of the award at the grant date. The Group engaged a third-party valuation specialist to provide a fair value for the awards using a Monte Carlo simulation model. The key inputs in the model were the expected weighted-average volatility of 35.58 % and the weighted-average share price of the Group at the date of grant of the award of $ 196.70. The weighted-average fair value of the awards at the grant date was $73.98 . The remaining 594,727 options had a weighted average grant date fair value of $194.08 based on the quoted trading price of the Group’s share on the date of the grant. For the three and six months ended June 30, 2024, the Group granted a further 45,733 share options with a nominal exercise price under the 2023 Long Term Incentive Plan. The Group engaged a third-party valuation specialist to provide a fair value for the awards using a Monte Carlo simulation model. The key inputs in the model were the expected weighted-average volatility of 39.94% and the share price of the Group at the date of grant of the award of $180.70. The weighted-average fair value of the awards at grant date was $62.14. On June 26, 2024, the Board adopted the Flutter Entertainment plc 2024 Omnibus Equity Incentive Plan (the “2024 Incentive Plan”) as a vehicle to continue granting equity to the Group, and the Group’s affiliates’, current and prospective employees, together with officers, non-employee directors and consultants. The 2024 Incentive Plan provides for an initial share pool of 1,770,000 shares, with such reserve amount to be reduced by the number of shares (if any) covered by awards granted under the Group’s legacy equity-based incentive plans (including the Sharesave Scheme). During the three months ended, June 30, 2023, the Group adopted the Flutter Entertainment plc 2023 Long Term Incentive Plans (“2023 LTIP”) which enables the Group to grant share awards and nil cost options with a single award vesting in tranches (if the relevant performance conditions are met) after the end of the performance period applicable to the tranche. Awards granted under the 2023 LTIP have a performance period of not less than three years. The awards granted under the 2023 LTIP have a market condition based on the Total Shareholder Return (“TSR”) relative to the FTSE 100 (excluding house builders, real estate investment trusts and natural resources companies). This market condition was directly factored into the fair-value-based measure of the award. The Group granted 44,820 share options with a nominal exercise price under the 2023 LTIP. The Group engaged a third party valuation specialist to provide a fair value for the awards using a Monte Carlo simulation model. The key inputs in the model were the expected weighted-average volatility of 35.91% and the share price of the Group at the date of grant of the award of $199.22. The weighted-average fair value of the awards at the grant date was $111.60. The performance targets associated with a further 134,460 share options were not determined as of June 30, 2023 and as a result no grant date has been established under ASC 718 and no compensation cost recognized in the period ended June 30, 2023. In respect of other employee share schemes, for the three months ended June 30, 2023, the Group granted 7,813 restricted awards and share options with a nominal exercise price (six months ended June 30, 2023: 34,419 restricted awards and share options with a nominal exercise price). The weighted-average grant date fair value of awards granted in the period under other plans was $ 214.77 (six months ended June 30, 2023: $163.75) based on the quoted trading price of the Group’s share on the date of the grant. For the six months ended June 30, 2023, the Group granted 519,212 restricted awards and 469,084 share options with a nominal exercise price under the Flutter Entertainment plc 2016 Restricted Share Plan. The weighted-average grant date fair value of awards granted in the period was $171.53 based on the quoted trading price of the Group’s share on the date of the grant. As of June 30, 2024, 3,963,314 restricted awards and options were outstanding across all employee share schemes. Total compensation cost arising from employee share schemes for the three and six months ended June 30, 2024, and June 30, 2023, was $59 million and $64 million, and $100 million and $110 million respectively in the Condensed Consolidated Statements of Comprehensive (Loss) Income.

Business Combinations - Additional Information (Detail) € in Millions, $ in Millions		3 Months Ended	6 Months Ended
	May 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 EUR (€)	Jan. 10, 2024	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Business Combination Consideration Transferred			$ 144	€ 132
Percentage Of Acquisition Remaining		49.00%	49.00%		49.00%
Threshold limit maximum for calculating the value of option price cap		$ 7,000	$ 7,000		€ 6,000
Percentage of discount on Marketability		20.00%	20.00%		20.00%
Percentage of discount on Control		20.00%	20.00%		20.00%
Business Acquisition Revenue		$ 52	$ 99
Business Acquisitions Net Income Loss		5	8
Goodwill		13,679	13,679				$ 13,745
Redeemable Preferred Stock [Member]
Business Acquisition [Line Items]
Non-controlling interest		89	89
MaxBet [Member]
Business Acquisition [Line Items]
Percentage Of Acquisition						51.00%
MaxBet Acquisition [Member]
Business Acquisition [Line Items]
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed In tangibles		135	135
Provisional fair value		118	118
Goodwill		$ 116	116
MaxBet Acquisition [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Finite lived intangible assets acquired during the period			100
MaxBet Acquisition [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Finite lived intangible assets acquired during the period			$ 22
Beyond Play [Member]
Business Acquisition [Line Items]
Business Combination Consideration Transferred	$ 26
Goodwill	$ 9
Business acquisition percentage of voting interests acquired	100.00%
Business combination consideration recognized identifiable assets acquired goodwill and liabilities assumed	$ 17
Deferred tax liability	1
Beyond Play [Member] \| Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Goodwill	$ 18

Prepaid Expenses and Other Current Assets (Tables)

6 Months Ended

Jun. 30, 2024

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Expenses and Other Current Assets Consisted

Prepaid expenses and other current assets consisted of the following as of June 30, 2024, and December 31, 2023:


($ in millions)	As of June 30, 2024		As of December 31, 2023
Prepayments and accrued income	$	250	$	205
Derivative financial assets		27		—
Current tax receivable		46		59
Inventory		14		13
Other receivables		104		166

Total prepaid expenses and other current assets	$	441	$	443

Interest Expense, Net - Schedule of the Details in Interest Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest Income (Expense), Net [Abstract]
Interest and amortization of debt discount and expense on long-term debt, bank guarantees	$ 122	$ 98	$ 248	$ 195
Other interest expense	2	(2)	4	(2)
Interest income	(16)	(14)	(32)	(19)
Interest expense, net	$ 108	$ 82	$ 220	$ 174

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Earnings (Loss) Per Ordinary Share

The following table sets forth the computation of the Group’s basic and diluted net earnings (loss) per ordinary share attributable to the Group:


	Three months ended June 30,				Six months ended June 30,
($ in millions except share and per share amounts)		2024	2023			2024	2023
Numerator
Net income (loss)		297	64			120	(47	)
Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests		18	2			22	(7	)
Adjustment of redeemable non-controlling interest to redemption value		18	(5	)		33	(5	)

Net income (loss) attributable to Flutter shareholder – basic and diluted		261	67			65	(35	)


Denominator
Basic weighted average outstanding shares		178	178			178	178
Effective of dilutive stock awards		2	2			2	—
Diluted weighted average outstanding shares		180	180			180	178

Earnings (Loss) per share
Basic		1.47	0.38			0.37	(0.20	)
Diluted		1.45	0.37			0.36	(0.20	)

Description of Business	6 Months Ended
Description of Business	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. DESCRIPTION OF BUSINESS Flutter Entertainment plc (the “Company” or “Flutter”) and its subsidiaries (together referred to as the “Group”) is a global online sports betting and iGaming entity, operating some of the world’s most innovative, diverse and distinctive online sports betting and gaming brands such as FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Junglee Games, Adjarabet and MaxBet. As of June 30, 2024, the Group offered its products in over 100 countries. The Group is a public limited company incorporated in the Republic of Ireland. Public Listing on the New York Stock Exchange (“NYSE”) On January 29, 2024, the Group completed its registration process with the United States Securities and Exchange Commission (“SEC”), and listed on the New York Stock Exchange (“NYSE”) for public trading. On May 31, 2024, the Group moved its primary listing to the NYSE following the approval of shareholders at the Company’s Annual General Meeting held on May 1, 2024. In addition, the Group maintains a listing on the main market of the London Stock Exchange (“LSE”).

Derivatives (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the Fair Value of Derivatives Assets and Liabilities

The following table summarizes the fair value of derivatives as of June 30, 2024 and December 31, 2023:


($ in millions)	Derivative Assets						Derivative Liabilities

	June-24			December-23			June-24				December-23

	Balance sheet location	Fair value		Balance sheet location	Fair value		Balance sheet location	Fair value			Balance sheet location	Fair value

Derivatives designated as cash flow hedges:
Cross-currency interest rate swaps	Prepaid expenses and other current assets	$	—	Prepaid expenses and other current assets	$	—	Other current liabilities	$	(109)		Other current liabilities	$	(104	)
Cross-currency interest rate swaps	Other non-current assets		—	Other non-current assets		—	Other non-current liabilities		(3	)	Other non-current liabilities		(21	)
Interest rate swaps	Prepaid expenses and other current assets	$	6	Prepaid expenses and other current assets		—	Other non-current liabilities		—		Other non-current liabilities		—

Total derivatives designated as cash flow hedges		$	6		$	—		$	(112)			$	(125	)



Derivatives designated as net investment hedges:
Cross-currency interest rate swaps	Prepaid expenses and other current assets	$	6	Prepaid expenses and other current assets	$	—	Other current liabilities	$	—		Other non-current liabilities	$	(1	)

Total derivatives designated as hedging instruments		$	6		$	—		$	—			$	(1	)


Derivatives not designated as hedging instruments:
Cross-currency interest rate swaps	Prepaid expenses and other current assets	$	15	Prepaid expenses and other current assets	$	—	Other current liabilities	$	(53	)	Other current liabilities	$	(52	)

Total derivatives not designated as hedging instruments		$	15		$	—		$	(53	)		$	(52	)

Total derivatives		$	27		$	—		$	(165)			$	(178	)

Other Current Liabilities

6 Months Ended

Jun. 30, 2024

Other Liabilities, Current [Abstract]

Other Current Liabilities

10. OTHER CURRENT LIABILITIES

Other current liabilities consisted of the following as of June 30, 2024, and December 31, 2023:


($ in millions)	As of June 30, 2024		As of December 31, 2023
Accrued expenses	$	1,006	$	945
Betting duty, data rights, and product and racefield fees		398		453
Employee benefits		260		330
Sports betting open positions		82		119
Derivative financial liabilities		162		156
Current tax payables		108		94
Loss contingencies		74		74
Indirect and payroll taxes		58		155
Deferred consideration		28		—
Contingent consideration		16		—
Total other current liabilities	$	2,192	$	2,326

Loss contingencies include accruals related to regulatory investigations and proceedings including those relating to gaming taxes to the extent to which they may apply to our business and industry.

The Group includes contract liability in relation to sports betting open positions in the Consolidated Balance Sheet. The contract liability balance was as follows:


	Six months ended June 30,
($ in millions)	2024
Contract liability, beginning of the period		119
Contract liability, end of the period		82

Due to the short term nature of our contract liabilities, a substantial portion of the contract liability at the beginning of the period is recognized in revenue in the immediately subsequent reporting period.

Fair Value Measurements - Schedule of of the Group's financial assets, financial liabilities and redeemable non-controlling interests (Parenthetical) (Detail) - Pokerstars Trade Mark [Member] $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finite lived intangible asset carrying value	$ 1,093
Impairment of finite lived intangible assets	$ 725
Measurement Input Royalty Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finite lived intangible assets measurement input	5.00%
Measurement Input Tax Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finite lived intangible assets measurement input	12.50%
Measurement Input, Discount Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finite lived intangible assets measurement input	12.50%
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finite lived intangible assets fair value	$ 368

Prepaid Expenses and Other Current Assets - Schedule of Other Current Assets Consisted (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepayments and accrued income	$ 250	$ 205
Derivative financial assets	27	0
Current tax receivable	46	59
Inventory	14	13
Other receivables	104	166
Total prepaid expenses and other current assets	$ 441	$ 443

Segments and Disaggregation of Revenue - Schedule of Reconciliation of Reportable Segment Adjusted EBITDA to Income (Loss) Before Taxes (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reportable segment adjusted EBITDA	$ 783	$ 674	$ 1,333	$ 1,061
Unallocated corporate overhead	(45)	(41)	(81)	(76)
Depreciation and amortization	(272)	(303)	(569)	(601)
Share-based compensation expense	(59)	(64)	(100)	(110)
Transaction fees and associated costs	(16)	(17)	(45)	(20)
Restructuring and integration costs	(22)	(26)	(45)	(47)
Other (expense) / income, net	89	10	(85)	(35)
Interest expense, net	108	82	220	174
Income (loss) before income taxes	350	150	188	(2)
UK [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reportable segment adjusted EBITDA	293	249	561	455
US [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reportable segment adjusted EBITDA	260	172	286	119
Australia [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reportable segment adjusted EBITDA	74	108	157	193
International Segement [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reportable segment adjusted EBITDA	156	145	329	294
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest expense, net	$ (108)	$ (82)	$ (220)	$ (174)

Interest Expense, Net (Tables)

6 Months Ended

Jun. 30, 2024

Interest Income (Expense), Net [Abstract]

Schedule of the Details in Interest Expense

The following table shows the detail of interest expense, net for the three and six months ended June 30, 2024 and 2023:


	Three months ended June 30,						Six months ended June 30,
($ in millions)		2024			2023			2024			2023
Interest and amortization of debt discount and expense on long-term debt, bank guarantees	$	122		$	98		$	248		$	195
Other interest expense		2			(2	)		4			(2	)
Interest income		(16	)		(14	)		(32	)		(19	)

Interest expense, net	$	108		$	82		$	220		$	174

Condensed Consolidated Statements Of Comprehensive (Loss) / Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 3,611	$ 3,001	$ 7,008	$ 5,919
Cost of Sales	(1,835)	(1,491)	(3,628)	(3,032)
Gross profit	1,776	1,510	3,380	2,887
Technology, research and development expenses	(216)	(176)	(406)	(344)
Sales and marketing expenses	(746)	(667)	(1,627)	(1,549)
General and administrative expenses	(445)	(445)	(854)	(787)
Operating profit	369	222	493	207
Other (expense) income, net	89	10	(85)	(35)
Interest expense, net	(108)	(82)	(220)	(174)
Income (loss) before income taxes	350	150	188	(2)
Income tax expense	(53)	(86)	(68)	(45)
Net income (loss)	297	64	120	(47)
Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests	18	2	22	(7)
Adjustment of redeemable non-controlling interest to redemption value	18	(5)	33	(5)
Net income (loss) attributable to Flutter shareholders	$ 261	$ 67	$ 65	$ (35)
Earnings (loss) per share
Basic	$ 1.47	$ 0.38	$ 0.37	$ (0.2)
Diluted	$ 1.45	$ 0.37	$ 0.36	$ (0.2)
Other comprehensive income / (loss), before tax:
Effective portion of changes in fair value of cash flow hedges	$ (10)	$ (16)	$ 13	$ (76)
Fair value of cash flow hedges transferred to the income statement	12	41	(2)	84
Foreign exchange gain on net investment hedges	50	8	29	12
Foreign exchange (loss) gain on translation of the net assets of foreign currency denominated entities	(60)	97	(245)	275
Fair value movements on available for sale debt instruments	1	0	0	1
Other comprehensive (loss) income	(7)	130	(205)	295
Other comprehensive (loss) income attributable to Flutter shareholders	(5)	101	(191)	240
Other comprehensive (loss) income attributable to non-controlling interest and redeemable non-controlling interest	(2)	29	(14)	55
Total comprehensive (loss) income	$ 290	$ 194	$ (85)	$ 248

Earnings (Loss) Per Share - Schedule of Basic and Diluted Net Earnings (Loss) Per Ordinary Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 297	$ (177)	$ 64	$ (111)	$ 120	$ (47)
Net income (loss) attributable to Flutter shareholder – basic	$ 261		$ 67		$ 65	$ (35)
Earnings (Loss) per share – basic	$ 1.47		$ 0.38		$ 0.37	$ (0.2)
Earnings (Loss) per share – diluted	$ 1.45		$ 0.37		$ 0.36	$ (0.2)
Flutter Entertainment Plc [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 297		$ 64		$ 120	$ (47)
Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests	18		2		22	(7)
Adjustment of redeemable non-controlling interest to redemption value	18		(5)		33	(5)
Net income (loss) attributable to Flutter shareholder – basic	261		67		65	(35)
Net income (loss) attributable to Flutter shareholder – diluted	$ 261		$ 67		$ 65	$ (35)
Basic weighted average outstanding shares	178		178		178	178
Effective of dilutive stock awards	2		2		2	0
Diluted weighted average outstanding shares	180		180		180	178
Earnings (Loss) per share – basic	$ 1.47		$ 0.38		$ 0.37	$ (0.2)
Earnings (Loss) per share – diluted	$ 1.45		$ 0.37		$ 0.36	$ (0.2)

Commitments and Contingencies - Schedule of Other Purchase Obligations (Detail) - Other Purchase Obligations [Member] $ in Millions	Jun. 30, 2024 USD ($)
Other Commitments [Line Items]
From June 30, 2024 to December 31, 2024	$ 508
2025	788
2026	491
2027	321
2028	176
Thereafter	460
Total commitment	$ 2,744

Long-Term Debt - Schedule of Contractual Principal Repayments (Detail) $ in Millions	Jun. 30, 2024 USD ($)
Long-Term Debt, by Current and Noncurrent [Abstract]
2024	$ 20
2025	39
2026	39
2027	39
2028	1,919
Thereafter	4,780
Total	$ 6,836

Other Current Liabilities - Schedule of Contract Liability Balance (Detail) $ in Millions	Jun. 30, 2024 USD ($)
Other Liabilities, Current [Abstract]
Contract liability - Beginning balance	$ 119
Contract liability - Ending balance	$ 82