New York, August 25, 2025: Flutter Entertainment plc (NYSE: FLUT; LSE: FLTR) (“Flutter”) the world’s leading online sports betting and iGaming operator notes sudden regulatory developments in India, prohibiting real-money gaming products, including games of skill.
The legalisation of the Promotion and Regulation of Online Gaming Bill was passed by the upper house of the Indian Parliament and received Presidential assent on August 22, 2025. This occurred within an exceptionally short timeframe having only been introduced into Parliament on August 20, 2025, and without a consultation process with industry stakeholders to consider the significant adverse consequences of this action.
Flutter is disappointed with this development and has consequently stopped its real-money operations in India effective from August 22, 2025 to comply with this new legislation.
Flutter is actively evaluating options to encourage the restoration of the 70-year-old constitutional protection afforded to skill-based games, while simultaneously working quickly to adapt operations to the changed regulatory landscape and continuing to promote the benefits of fully regulated products.
Flutter’s Indian operations were expected to contribute approximately $200m revenue and $50m Adjusted EBITDA in 2025, with approximately half of the profits to be delivered in the second half of 2025. We are also assessing the accounting implications including any non-cash impairments to the Junglee business and will provide additional disclosures as conclusions are made.
Peter Jackson commented: “I am extremely disappointed with the sudden changes to the regulatory landscape in India. Over the last four years Junglee has invested significantly in its local market, building a workforce of over 1,100 employees to deliver innovative skill-based gaming products to Indian customers. Central to this has been a strategy which prioritizes consumer protections and responsible gaming. We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy. We believe in regulatory frameworks that put customers first, and are evaluating options to restore skill-based games in the Indian market”
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. In some cases, you can identify these forward-looking statements by the use of words such as “outlook”, “believe(s)”, ”expect(s)”, “potential”, “continue(s)”, “may”, “will”, “should”, “could”, “would”, “seek(s)”, “predict(s)”, “intend(s)”, “trends”, “plan(s)”, “estimate(s)”, “anticipates”, “projection”, “goal”, “target”, “aspire”, “will likely result”, and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties and there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The ability to predict results or actual effects of our plans and strategies is inherently uncertain. Accordingly, actual results may differ materially from those expressed in, or implied by, the forward-looking statements. In addition, we may incur additional or unexpected costs in connection with the matters discussed in this press release. The ability to predict results or actual effects of our plans and strategies is inherently uncertain. Accordingly, actual results may differ materially from those expressed in, or implied by, the forward-looking statements.
Factors that could cause Flutter’s results to differ materially from those described in the forward-looking statements can be found in Part I, “Item 1A. Risk Factors” of Flutter’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as filed with the Securities and Exchange Commission (the “SEC”) and other periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Flutter undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
About Flutter Entertainment plc
Flutter is the world’s leading online sports betting and iGaming operator, with a market leading position in the US and across the world. Our ambition is to leverage our size and our challenger mindset to change our industry for the better. By Changing the Game, we believe we can deliver long-term growth while promoting a positive, sustainable future for all our stakeholders. We are well-placed to do so through the distinctive, global advantages of the Flutter Edge, which gives our brands access to group-wide benefits, as well as our clear vision for sustainability through our Positive Impact Plan.
Flutter operates a diverse portfolio of leading online sports betting and iGaming brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, Snai, tombola, Betfair, MaxBet, Junglee Games, Adjarabet and Betnacional. We are the industry leader with $14,048m of revenue globally for fiscal 2024, up 19% YoY.
To learn more about Flutter, please visit our website at www.flutter.com.
Contacts:
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Investor Relations: |
Media Relations: |
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Paul Tymms, Investor Relations |
Kate Delahunty, Corporate Communications |
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Ciara O'Mullane, Investor Relations |
Lindsay Dunford, Corporate Communications |
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Chris Hancox, Investor Relations |
Rob Allen, Corporate Communications |
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Email: corporatecomms@flutter.com |
