{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-300531","form_type":"8-K","ticker":"FLUT","cik":"0001635327","company_name":"Flutter Entertainment plc","filed_at":"2025-11-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.001103+00:00","generated_at":"2026-05-16T16:30:19.177338+00:00","sec_items":["7.01","9.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"UK tax hikes to cost Flutter $320M EBITDA in FY2026, $540M in FY2027","bullets":["UK iGaming duty rises 19pp to 40% from April 2026; sports betting (ex-horse) up 10pp to 25% from April 2027.","Before mitigation, impact ~$320M in FY2026 and ~$540M in FY2027 on adjusted EBITDA.","First-order mitigation (marketing/opex cuts) expected ~20% of gross impact in first 6 months, rising to ~40%.","Net EBITDA impact estimated at $235M in FY2026 and $339M in FY2027 after first-order mitigation.","CEO warns tax hike strengthens illegal operators and cites Netherlands precedent where tax rise cut government receipts."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-300531","json":"https://secwatch.observer/filing/0001193125-25-300531.json","markdown":"https://secwatch.observer/filing/0001193125-25-300531.md","text":"https://secwatch.observer/filing/0001193125-25-300531.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1635327/000119312525300531/0001193125-25-300531-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1635327/000119312525300531/d25993d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T16:30:19.177338+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}