1 week ago
Flutter Entertainment announced a enactment modulation astatine FanDuel, with Chief Executive Amy Howe departing aft 5 years and Christian Genetski stepping into the CEO role. The departure was confirmed alongside Flutter’s Q1 2026 results.
Key Takeaways
- Amy Howe departed arsenic FanDuel CEO connected May 6 with $4.37M severance aft 5 years starring the US sportsbook.
- Christian Genetski assumed leadership; Dan Taylor was named President of Flutter Entertainment successful a recently created role.
- Flutter Q1 gross up 17% to $4.3bn; FY 2026 EBITDA guidance lowered from $2.97bn to $2.87bn.
Genetski Takes Over While Flutter Names Group-Level President
Per the property release, Howe volition person severance of $4,370,828 – adjacent to 24 months of her $1.03 cardinal basal wage positive bonus accidental – alongside clip pro-rated and afloat vested equity awards and up to 12 months of company-paid wellness insurance.
According to an SEC 8-K filing, Flutter and Howe agreed to her departure connected April 30, with the ceremonial Separation Agreement signed May 5 and her employment terminating May 6. The statement includes clip pro-rated vesting of the “Value Creation Award” granted to Howe successful October 2021 nether its existing terms.
Christian Genetski, FanDuel President since 2015, volition presume enactment of the US concern successful summation to his existing responsibilities for firm strategy, concern development, strategical partnerships, legal, regulatory, and authorities affairs.
Flutter besides created a caller group-level role, appointing Dan Taylor arsenic President of Flutter Entertainment alongside his existing presumption arsenic CEO of Flutter International. Taylor volition oversee the FanDuel concern successful summation to the planetary portfolio that includes Paddy Power, Betfair, Sportsbet, PokerStars, and Sisal.
Q1 results suggest U.S. underperformance arsenic the crushed down this restructuring. Flutter reported radical gross of $4.3 cardinal for Q1 2026, up 17% year-over-year, but U.S. gross grew lone 6% to $1.76 billion, with US sportsbook gross up conscionable 1%. CEO Peter Jackson said the determination to depart was not Howe’s, telling Reuters: “It’s nary concealed that FanDuel has underperformed, but looking forward, we’ve got to get the close squad successful spot to enactment the business.” In Flutter’s authoritative statement, Jackson said: “With important maturation imaginable ahead, we person decided this is the close infinitesimal for caller enactment astatine FanDuel.”
Howe joined FanDuel successful February 2021 from Ticketmaster, wherever she served arsenic President and Chief Operating Officer. During her tenure, FanDuel established a 39% gross gaming gross stock successful the U.S. sportsbook marketplace and 27% successful iGaming. The institution achieved its archetypal profitable 4th and reached a valuation of $31 cardinal astatine its peak. Mike Raffensperger, FanDuel’s President of Sports, besides departed the institution recently.
Flutter shares are down astir 57% implicit the past twelvemonth amid broader selloffs successful gaming stocks tied to prediction-markets assemblage concerns. The institution is besides reviewing a imaginable delisting from the London Stock Exchange to consolidate astir its NYSE listing, according to commentary from Wednesday’s net call.
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