Flutter's CEO Resigns Amid Earnings Shortfall and Leadership Shift

WHO:

CNBC - Peter Jackson, CEO of Flutter, is stepping down.

CNBC - Dan Taylor, the current CEO of Flutter's international business, will replace Peter Jackson.

WHAT:

CNBC - Flutter's shares fell more than 11% following the announcement of Jackson's departure and a profit guidance cut.

CNBC - Flutter reported earnings per share of 49 cents for its second quarter, below Wall Street expectations of 60 cents per share.

CNBC - Flutter's revenue for the second quarter was $4.33 billion, exceeding analysts' estimates of $4.26 billion.

CNBC - Flutter now expects adjusted earnings before interest, taxes, depreciation, and amortization for its U.S. business to be $760 million, a 22% reduction from previous guidance.

CNBC - Flutter plans to invest roughly $270 million of additional EBITDA into its U.S. business in the second half of 2026.

CNBC - FanDuel's loyalty program reached 70% of customers during the quarter and will be available nationally by football season.

CNBC - The sportsbook recently posted its biggest-ever MLB week.

WHERE:

CNBC - Flutter operates primarily in the United States, with FanDuel being its most important business.

WHEN:

CNBC - Dan Taylor will take over as CEO effective Oct. 1.

CNBC - Flutter's promotional spending will move closer to 6% of handle in the second half of 2026.

WHY:

CNBC - Jackson stated, "We didn't execute very well last year," acknowledging Flutter's mishandling of customer propositions and promotions.

CNBC - Flutter is investing heavily to regain market share lost by FanDuel in the U.S. market.

HOW:

CNBC - Flutter is focusing on better rewards, promotions, and customer protections as part of its strategy to improve its U.S. business.

CNBC - The company is implementing Bet Protect Plus, which refunds a bet when a selected player is injured, addressing a major customer pain point.

(UPDATED August 6, 2026 05:08 UTC)

Peter Jackson, the CEO of Flutter, is stepping down, with Dan Taylor, the current CEO of Flutter's international business, set to take over on October 1. Following the announcement, Flutter's shares fell more than 11%, as the company reported second-quarter earnings per share of 49 cents, which was below Wall Street's expectations of 60 cents, although its revenue of $4.33 billion exceeded estimates. Flutter is planning to invest around $270 million into its U.S. business in the second half of 2026, while also enhancing its customer experience with initiatives like Bet Protect Plus, which refunds bets when a selected player is injured.