New York, May 9, 2026, 17:05 EDT
Flutter Entertainment has swapped out FanDuel CEO Amy Howe, naming FanDuel President Christian Genetski as her successor. Dan Taylor, who leads the company’s international arm, steps in as group president, now supervising the U.S. segment—an effort to pull the reins tighter on its top growth engine.
The timing is notable; Flutter trimmed its 2026 forecast right alongside the move. The company is now looking for group revenue to hit $18.305 billion, with adjusted EBITDA expected at $2.865 billion—both figures at the midpoint and both lower than what it had previously laid out. Earlier guidance called for $18.4 billion in revenue and $2.97 billion in adjusted EBITDA. Adjusted EBITDA, which takes out interest, tax, depreciation, amortization and certain company-defined adjustments, serves as the benchmark here.
FanDuel remains under the spotlight. Flutter reported a 6% bump in U.S. revenue for the first quarter, but sportsbook revenue barely moved, inching up just 1%. By contrast, iGaming — think online casino games — jumped 19%. The company still led the U.S. market, hanging onto the top spot in both sportsbook and iGaming, with gross gaming revenue shares of 39% and 27%, respectively. That’s the portion operators keep from wagers before certain costs kick in.
Flutter’s Peter Jackson didn’t mince words, telling Reuters, “FanDuel has underperformed.” Jackson also clarified that Howe didn’t choose to leave. The company, he said, wants a team that can help get the U.S. business back on track. Reuters
According to a securities filing, Flutter reached an agreement on April 30 for Howe’s exit from FanDuel, with her last day set for May 6. Per the filing, she’s set to receive $4.37 million in severance—representing two years’ base pay and her annual bonus opportunity—plus equity vesting and as much as a year of company-paid health insurance.
Genetski came on board at FanDuel back in 2015, handling everything from corporate strategy to business development, partnerships, legal, and government affairs, according to Flutter. Jackson called out Genetski’s “deep market knowledge.” Howe, for her part, said FanDuel had carved out a “clear leadership position” and the timing was right for a transition. SEC
With Taylor’s promotion, Flutter puts a seasoned executive at the helm not just of FanDuel, but its entire global lineup—Sportsbet, Paddy Power, Betfair, Sky Bet, Sisal, Snai, and Betnacional all fall under his expanded remit. Flutter said he’ll continue to oversee the international segment, now adding group-wide commercial execution to his plate.
Sportsbet’s revenue climbed to $304 million in the first quarter, up from $271 million a year ago, according to The Straight. Gains came largely from solid sports results and currency shifts, despite persistent weakness in racing and greyhound betting. The Australian business managed just one offset.
Competition looks tougher. DraftKings turned in first-quarter revenue of $1.646 billion, an uptick of 17%, but left its 2026 revenue and adjusted EBITDA outlook unchanged. CEO Jason Robins called the core business solid, and pointed to a push into sports “Predictions”—DraftKings is following FanDuel’s lead, expanding into event-contract offerings. SEC
Prediction markets — those venues letting people buy and sell contracts based on what might happen — are still the wild card here. Citizens analyst Jordan Bender expects those challenges to “resolve in the coming quarters,” though he also flagged that leadership shakeups leave fresh uncertainty hanging over Flutter’s U.S. narrative, according to iGaming Business. iGB
There’s a risk the reset drags out longer than Flutter hopes. The company pointed to weak sports outcomes, that early Arkansas rollout, plus investments in FanDuel Predicts as reasons for cutting guidance. FanDuel Predicts didn’t contribute meaningful revenue in Q1 and isn’t expected to for the rest of the year, according to Flutter. If spending climbs, or prediction markets lure away more bettors, the U.S. rebound could remain patchy.
With U.S. markets shut Saturday, the last trade for Flutter on the NYSE landed at $101.19 on Friday. Shares dipped to $100.65 at their session low. Investors are left weighing if this leadership shakeup solves deeper issues or is just the opening act.
