All articles tagged with #flutter entertainment
Dan Taylor will become Flutter's group chief executive on Oct. 1, 2026, succeeding Peter Jackson who will step down from the board on Sept. 30 and remain as adviser through year-end; Taylor, currently head of Flutter's International division, will also join Flutter's board, as the company aims to maintain growth momentum including FanDuel's sportsbook improvement plan.
Flutter Entertainment missed Q2 earnings estimates and cut its full-year U.S. EBITDA guidance by 22% to $760 million, announcing CEO Peter Jackson will depart at quarter’s end with Dan Taylor taking over Flutter’s international business on Oct. 1. The company plans about $270 million in additional U.S. EBITDA investment in H2 2026 to boost FanDuel through better rewards, promotions and protections, as FanDuel’s U.S. market share slips. Shares fell about 13% after the announcement, while Flutter pushes a pivot to revive FanDuel and restore momentum ahead of 2027.
Flutter Entertainment reported a Q4 2025 miss across most metrics, with revenue of $4.74B (vs. $4.97B expected), adjusted EPS of $1.74 (vs. $1.95), and EBITDA of $832M (vs. $893M). Revenue rose 25% year over year, but 2026 revenue guidance of $17.75B–$19.05B came in below consensus. CEO Peter Jackson cited tougher bettor conditions and said prediction markets could spur legalization, while there was no evidence of sportsbook cannibalization. Shares fell about 7% after hours.
DraftKings and Flutter Entertainment stocks plummeted as the NCAA announced plans to ban prop bets in college sports, citing concerns about the integrity of the game and student athletes' protection. This comes amid a series of scandals and federal scrutiny in the sports betting and online gambling industry, including investigations into betting irregularities involving NBA player Jontay Porter and a federal probe into online gambling VIP programs. Additionally, federal lawmakers are targeting online betting's targeting of big spenders and VIPs, with Sen. Richard Blumenthal urging companies to stop using player data to target customers with gambling problems, and Rep. Paul Tonko working on legislation for federal oversight of online sports betting in legalized states.
Flutter Entertainment, owner of FanDuel, is set to list in New York as it capitalizes on the US online sports betting boom, with sales in the US surging from £191m in 2018 to £3.6bn last year. The company sees a long runway for future growth but acknowledges concerns around problem gambling influencing future regulation. Despite bullish outlooks from analysts and the industry's pushback against potential regulations, Flutter remains cautious about the impact of social responsibility concerns on its reputation and operations.
Fox Corp is shutting down its Fox Bet betting service, which it launched in partnership with FanDuel owner Flutter Entertainment four years ago. The shutdown will be completed by the end of August. Fox will retain the Fox Bet brands, while Flutter will keep the customer database and licenses. Fox will launch a new game called Fox Super 6 later this summer. The decision to shut down Fox Bet comes after Fox was given a 10-year option to acquire 18.6 percent of FanDuel for $3.7 billion.
Flutter Entertainment and Fox Corporation have announced the closure of sports betting platform FOX Bet, with a phased closure taking place between July and August 2023. Flutter will retain ownership of PokerStars and FanDuel, while Fox will retain the rights to the FOX and FOX Bet brands and plans to launch a new game called FOX Super 6. Fox also holds a 2.5% stake in Flutter and has the option to acquire 18.6% of FanDuel.