Flutter Entertainment has announced a leadership transition at the top of the company while reporting weaker profitability and a reduced earnings outlook, as challenges in its US business continued through the first half of the year.
The company, which owns FanDuel and Paddy Power, said chief executive Peter Jackson will leave his role at the end of September. Dan Taylor, currently Flutter’s president and chief executive of its international division, will take over as CEO from October 1.
The announcement accompanied second-quarter results that showed pressure on the group’s largest market, the United States, where betting activity and customer retention remained below expectations.
Dan Taylor Set to Lead Flutter From October
Jackson confirmed that he would step down after nearly nine years as chief executive, describing the timing as appropriate for a handover to Taylor. The outgoing CEO will remain with the company in an advisory capacity until the end of the year to help support the transition process.
During Jackson’s tenure, Flutter expanded significantly through acquisitions and international growth. Reflecting on the period, he said the company had changed “beyond recognition” since its days as Paddy Power Betfair and had become “the world’s leading online sports betting and igaming operator”.
Taylor arrives in the role after recently being appointed president of Flutter, a position created in May following Amy Howe’s departure as FanDuel CEO. The company highlighted Taylor’s involvement in efforts to improve FanDuel’s sportsbook performance, noting that early indications from those initiatives have been encouraging.
The incoming chief executive currently oversees Flutter’s international division, which generated more than $9 billion in annual revenue during 2025.
“Our priority will be to keep delivering for our colleagues, customers and shareholders, while building on the momentum we’ve created across the business,” Taylor said, according to The Wall Street Journal.
US Business Weighs on Quarterly Results
Flutter reported a net loss of $296 million for the second quarter ended June 30, compared with a profit of $37 million during the same period a year earlier. On a per-share basis, the company recorded a loss of $1.57, while adjusted earnings per share reached 49 cents. Analysts surveyed by FactSet had expected adjusted earnings of 54 cents per share.
Revenue increased 3% year-on-year to $4.33 billion, exceeding analyst forecasts of $4.23 billion. Despite the revenue growth, several key indicators pointed to softer performance in the US market.
Sales in Flutter’s US segment fell 6% during the quarter to approximately $1.7 billion. The company attributed much of the decline to a 15% reduction in sportsbook revenue. It also stated that sports outcomes during the period generally favored bettors rather than operators, affecting sportsbook margins.
Flutter reported that average monthly players across the group declined by 11%. In the United States, the company continued to experience customer churn and a prolonged run of weeks in which customer activity trends were unfavorable.
Management said growth in the US market had remained subdued during the first six months of the year. The company has also faced difficulties capitalizing on the growing popularity of prediction markets, which allow customers to place wagers on a range of outcomes beyond traditional sports events.
Lower Forecast Reflects Ongoing Pressures
Alongside the quarterly results, Flutter revised its financial expectations for the remainder of the year.
The company reduced its projected annual group revenue outlook to a midpoint of $17.91 billion, down from a previous forecast of $18.31 billion. Flutter cited second-quarter performance, investment activity and changes to the NFL schedule among the factors behind the adjustment.
The group also lowered its full-year earnings forecast. According to the updated guidance, expected earnings have been reduced by $210 million to $2.655 billion.
While the US business experienced headwinds, Flutter reported stronger performance in its international operations. Revenue outside the US increased 10% during the quarter. The company also noted solid customer engagement during the FIFA World Cup, particularly during the knockout rounds of the tournament.
Investors reacted negatively to the announcements. Flutter shares fell 5.5% in premarket trading following the release of the results and the leadership succession plan.