Flutter Entertainment has reported a staggering net loss of $296 million for the second quarter of the 2026.
This loss has been attributed to the increase in the gaming duties in the UK and the slow growth of the sportsbook sector in the USA, coupled with the increased costs of investment. Meanwhile, Group revenue grew by 3% compared to the previous year and stood at $4.33 billion but adjusted EBITDA decreased by 45% and amounted to $508 million, which caused a fall in profitability from 21.9% to 11.7% in that period. Average monthly players went down by 11% to 14.3 million as the company decided to exit Indian real money gaming market due to regulatory restrictions.
Flutter’s US division experienced the most severe decline as revenues fell by 6 % to $1.68 billion. Revenue generated by sportsbooks fell by 15% and iGaming dropped by 14% as well. Adjusted EBITDA stood at $119 million being down 70%, while FanDuel maintained 39 % share in the sportsbook market and 27 % share in the iGaming market.
Flutter’s international operations generated better results with the revenue increasing by 10% to $2.64 billion, while adjusted EBITDA fell by 19% to $476 million.
The results were disclosed amid a leadership transition, as Peter Jackson will resign as chief executive on 30 September 2026. Dan Taylor, who is currently chief executive of Flutter International and president of the group, will take over on 1 October and join the board.
During 2025, Taylor’s division is said to have posted revenues of $9 billion and adjusted EBITDA in excess of $2.2 billion. After the release of the results, Flutter shares dropped by 11.5% to $92.91, even though the analyst consensus stayed at “moderate buy,” with the average price target within the next 12 months set at $175.26.