Flutter Entertainment has announced a major leadership change alongside its second-quarter results, with Dan Taylor set to succeed Peter Jackson as Group CEO from 1 October 2026.
The change comes at a significant moment for the owner of FanDuel, Paddy Power, Betfair, PokerStars and Sky Betting & Gaming, as Flutter continues to balance international expansion with increased pressure across the US sports betting market.
Flutter reported group revenue of $4.33 billion for Q2 2026, an increase of 3% compared with the same period last year. However, adjusted EBITDA fell 45% to $508 million, while the company recorded a net loss of $296 million compared with a $37 million profit in Q2 2025.
iGaming Provides a Bright Spot
While sportsbook performance came under pressure, Flutter’s online casino operations continued to deliver growth.
Group iGaming revenue increased 9% year on year to $1.94 billion, highlighting the growing importance of casino products within Flutter’s wider portfolio.
In the US, where Flutter operates through FanDuel, iGaming revenue climbed 14% to $577 million. Direct casino average monthly players were also up 26%, according to the company.
FanDuel remained a market leader, with Flutter reporting approximately 27% US iGaming gross gaming revenue market share, alongside a 39% share of the US sportsbook market.
US Sports Betting Faces Headwinds
The picture was more challenging for Flutter’s sportsbook operations.
US revenue declined 6% to $1.68 billion during the quarter, with sportsbook revenue falling 15%. Flutter said sporting results created a six percentage point year-on-year drag on US revenue growth.
US adjusted EBITDA dropped 70% to $119 million, reflecting a combination of sportsbook performance, investment in new state launches and spending around prediction markets.
The emergence of prediction platforms such as Kalshi and Polymarket has increasingly become part of the competitive conversation surrounding the US betting sector. Flutter has responded by expanding its own FanDuel Predicts proposition, adding player props and customisable combinations.
The company now expects its market-making operation to generate around $50 million in revenue during 2026.
Reuters reported that Flutter has again reduced its full-year profit expectations as investment in the US intensifies, with competition from prediction markets also weighing on investor sentiment.
International Business Continues to Expand
Outside the US, Flutter delivered stronger top-line growth.
International revenue increased 10% to $2.64 billion, including a 14% rise in sportsbook revenue and 7% growth in iGaming. Acquisitions contributed to the increase, while organic international revenue grew approximately 4%.
Flutter has built one of the industry’s largest international portfolios through brands including PokerStars, Sisal, Snai, Betfair, Paddy Power and Betnacional.
The international division is also where incoming CEO Dan Taylor has played a central role.
Taylor currently serves as Flutter President and CEO of Flutter International and has spent more than a decade with the group. He has previously overseen businesses including Paddy Power and Betfair and has been involved in Flutter’s expansion into major regulated markets including Italy and Brazil.
A New Chapter for Flutter
Peter Jackson has led Flutter since 2018, overseeing a period in which the company transformed from a predominantly European betting operator into one of the world’s largest online gambling groups.
Perhaps the most significant development during his tenure was the rise of FanDuel following Flutter’s acquisition of the business.
Jackson will leave the CEO position at the end of September, with Taylor assuming leadership on 1 October.
Taylor inherits a business that remains highly influential across global iGaming but is entering a new competitive phase.
Online casino growth continues to provide momentum, while Flutter’s international operations are expanding across regulated markets. At the same time, FanDuel faces a more complex US environment shaped by aggressive sportsbook competition, increased investment requirements and the rapid emergence of prediction markets.
For Taylor, the challenge will be converting Flutter’s considerable scale into sustainable growth while protecting the market-leading positions that have made the group one of the defining companies of modern iGaming.