Overview
- On Wednesday Flutter said Peter Jackson will step down as group chief executive at the end of September and that Dan Taylor, currently head of Flutter International, will become CEO on October 1.
- The group revised full-year EBITDA guidance to about $2.655 billion, around $210 million below prior expectations, and trimmed revenue guidance by about $395 million.
- Flutter reported first-half adjusted EBITDA fell 45% to $508 million while US revenue dropped 6% to $1.68 billion and its sportsbook business declined about 15%.
- The company said the earnings shortfall reflects weaker US results and increased spending to rebuild FanDuel, including higher bonuses, promotions and loyalty investment to regain customer momentum.
- Shares fell sharply in New York after the update and investor pressure has risen this year as executive turnover increased; Jackson will remain as an adviser through the end of 2026 to support the transition.