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OAKLAND PARK, Fla (Gambling911.com) - Flutter’s long-serving chief executive Peter Jackson announced Wednesday he will be stepping down and is slated to be replaced by the head of its international business. Flutter’s shares fell by more than 9 per cent in morning trading in New York.
The news comes as the gambling group warned increased investment in the US would reduce near-term profits.
Flutter is the parent company of FanDuel, one of two leading US regulated sportsbooks that have cornered much of the industry's market share. DraftKings and FanDuel often alternate in terms of overall market share.
The New York-listed group said on Wednesday that Dan Taylor would succeed Jackson, who has been the company’s chief executive since 2018, in October.
The management shake-up came as Flutter said it would spend more on bonuses, promotions and loyalty schemes in the US as its sportsbook FanDuel faces mounting competition from prediction markets such as Polymarket and Kalshi.
Jackson said in a letter to investors that the company cut the midpoint of its full-year revenue guidance by $395mn to $17.9bn and the midpoint of its guidance for earnings before interest, tax, depreciation and amortisation by $210mn to $2.66bn.
The company, which also owns Paddy Power and Betfair, said early trading in the third quarter was ahead of expectations, benefiting from “good engagement” in the knockout stages of the World Cup.
Shares have dropped 56 per cent so far in 2026 with fears that prediction markets will eat into the $17bn US sports gambling market.
“I’m not going to sit here and say investors are not concerned,” said Jackson, even as he insisted that prediction markets were not cannibalising Flutter’s products and even offered an “incremental growth opportunity”.
- Aaron Goldstein, Gambling911.com
