Flutter Shares Slump as CEO Peter Jackson Steps Down

Flutter Entertainment shares tumbled 12 percent to $92.28 in New York after chief executive Peter Jackson announced his departure and the betting giant reported a $296 million (€256 million) loss for the second quarter. According to company statements, the Dublin-headquartered group also cut its full-year profit forecast to $2.66 billion, marking the fourth consecutive quarter of reduced earnings guidance as the firm faces plateauing growth in the United States market.

Peter Jackson Steps Down After Nine Years

Jackson will step down on September 30th after leading the business for nearly a decade, during which time he became the highest-paid boss of an Irish publicly-quoted business with a $19.7 million (€17.2 million) remuneration package last year. Company veteran Dan Taylor, currently group president and head of international businesses, will take over the role. According to Reuters, Jackson stated that the board agreed it was the right time for a new leader to guide Flutter into its next chapter. Chairman John Bryant credited Jackson with growing annual revenues from $2 billion to $16 billion and transforming the firm into the world’s largest digital betting company.

US Market Headwinds and Prediction Market Pressures

The leadership shuffle comes as Flutter’s fortunes shift in the US, its single biggest market, where stock has fallen 65 percent over the last 12 months. US revenue slipped 6 percent to $1.7 billion in the second quarter, driven partly by sports results favouring punters. Furthermore, the company has struggled to tap into the rising popularity of prediction markets like Polymarket and Kalshi. To combat this challenge, Flutter recently launched its own prediction market app, FanDuel Predicts, which incoming chief executive Dan Taylor will oversee as he attempts to reverse current market trends.

International Growth Offsets Domestic Slump

While the US division faced headwinds, international operations showed resilience during the quarter ending June 30th. Irish and British revenues rose 4 percent to $971 million, aided by a strong start to the World Cup. Overall international revenue climbed 10 percent to $2.6 billion compared to the same period in 2025. However, increased UK digital betting duty to 40 percent and higher marketing spend ahead of the World Cup cut earnings before interest and write-offs by 19 percent to $476 million, according to financial disclosures.

Frequently Asked Questions

Who is replacing Peter Jackson as Flutter Entertainment CEO?

Dan Taylor, the group’s president and head of international businesses, will take over on September 30th, according to company statements.

Why did Flutter Entertainment cut its profit forecast?

Flutter reduced its full-year profit forecast to $2.66 billion due to plateauing growth and a 6 percent revenue slip in its key US market, alongside increased UK digital betting duties and higher marketing expenditures.

How did Flutter’s stock react to the announcements?

Flutter Entertainment shares shed 12 percent to $92.28 in New York following the release of the second-quarter loss and the departure announcement of its chief executive.