Flutter Slashes US Guidance and Announces CEO Transition
Flutter Entertainment shares fell 11% after the company missed earnings expectations and announced CEO Peter Jackson will be succeeded by Dan Taylor on October 1.
Shares of Flutter Entertainment fell more than 11% on Wednesday following a second-quarter earnings report of 49 cents per share, failing to meet the 60-cent expectation from Wall Street. The company responded by slashing its full-year U.S. adjusted EBITDA profit guidance by 22% to $760 million.
Concurrent with the financial miss, Flutter announced that CEO Peter Jackson will step down at the end of the quarter. Dan Taylor, who currently leads the company's international business, will succeed him on October 1. Jackson admitted that the company did not execute well during the previous year.
To address market share losses at FanDuel, Flutter is allocating an additional $270 million to its U.S. operations for the second half of 2026, prioritizing customer rewards and promotions. The company is also migrating its sports and novelty prediction market contracts from CME to Crypto.com to accelerate product launches and expand its catalog before the upcoming football season.
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