Flutter Shares Sink 13% as It Cuts U.S. Profit Outlook 22% and Replaces CEO

3 articles · Updated · BloodHorse.com · Aug 5

Flutter cut full-year U.S. adjusted EBITDA guidance to $760 million and said CEO Peter Jackson will leave at quarter-end, with international chief Dan Taylor taking over on Oct. 1.
49 cents in second-quarter EPS missed the 60-cent analyst estimate even as revenue edged past forecasts at $4.33 billion, helping drive the stock's 13% drop.
FanDuel's lost U.S. market-share momentum drove the reset: Flutter said it pulled back too far on promotions and will add about $270 million of second-half EBITDA investment to rewards, offers and customer protections.
Promotional spending will move closer to 6% of handle, while Flutter pointed to early traction from its loyalty program, Bet Protect Plus and stronger activity across the NBA Finals, MLB and World Cup reactivations.
Jackson said the company is sacrificing near-term profit to enter 2027 with more customers and stronger share, while expanding FanDuel's national reach through prediction markets on Crypto.com.