Flutter estimates UK taxation changes impact FY26 EBITDA at $320M

The company states: “Flutter Entertainment (FLUT) notes changes to gaming taxation announced by the UK Government in its autumn budget. The changes to UK online gaming taxation include: Effective from April 2026, iGaming increases 19 percentage points to 40%. Effective from April 2027, Sports betting increases 10 percentage points to 25%. The adjusted EBITDA1 impact of these changes for Flutter, before mitigation, is expected to be approximately $320M in FY26 and $540M in FY27. In the near term, Flutter expects the overall mitigation opportunity to be similar to recent precedent, with a greater relative opportunity for second order mitigation offsetting a moderately lower relative level of first order mitigation.”