Peter Jackson stepping down from Flutter CEO role

Additional reporting provided by Matt Rybaltowski

Flutter CEO Peter Jackson will step down from his role at the helm on 30 September, the operator announced in its Q2 earnings report on Wednesday.

Jackson’s exit comes three months after FanDuel CEO Any Howe stepped down from the operator, marking two hugely significant staffing changes for Flutter within the last six months.

Flutter International chief, and former UK and Ireland CEO Dan Taylor will take over as the group’s chief executive on 1 October.

In a statement included in the Q2 results, Jackson said he believed “this is the right point in Flutter’s journey for me to hand over the leadership of the business to Dan”.

He added: “In my time as CEO Flutter has changed beyond recognition, transitioning from a UK-focused Paddy Power Betfair, into the world’s leading online sports betting and iGaming operator, with market leading positions in the US and around the world. Having worked closely together for years, I am confident Dan and the leadership team will continue to build on Flutter’s success.

“I will help the transition during Q3 as we prepare for the important NFL season and hand over fully at the end of the quarter.”

Speaking on Flutter’s Q2 earnings call this morning CFO Rob Coldrake said Jackson’s leadership over the last nine years “had been instrumental in building Flutter into the global leader that it is today.”

“On a personal note, I’ve greatly valued his support and advice since becoming CFO,” he added.

Flutter to shift its over-reliance on US?

Jackson rose to become the group’s CEO in January 2018, having previously spent almost five years as a non-executive director on the Paddy Power Betfair board.

He has a rich career history spanning senior executive roles in banking and payments, after starting out his career as a consultant for McKinsey.

Jackson oversaw Flutter’s transition from a largely European business to a global powerhouse, including its acquisition of FanDuel in May 2018 and subsequent push into the DFS and betting sectors.

Since taking the helm, Jackson noted in this morning’s Q2 analyst call that he attempted to take a long-term view on how to create value for shareholders, even if it meant making decisions that weren’t universally welcomed in the moment.

In particular, Jackson referenced Flutter’s decision to invest heavily in US growth in the wake of the PASPA ruling that triggered a gold rush in sports betting.

Looking back, Jackson believes the strategy strengthened Flutter’s “competitive position and laid the foundations for the business today”.

But following Flutter’s recent decision to delist from the London Stock Exchange, analysts have warned that the operator could have become over-reliant on the US, as it faces strong competition from prediction markets and a slowed betting growth.

In Q2 FanDuel’s revenue declined 6%, and full-year US EBITDA guidance was cut by $210 million.

Taylor’s appointment to group CEO, after six years leading the international business, could signal a pivot to a more international focus for Flutter.

Speaking to iGB last month M&A adviser Ben Robinson highlighted Flutter’s 27% international growth in Q1, driven largely by its acquisitions of Snai in Italy and Betnacional in Brazil.

“For now, the international business everyone stopped talking about is doing the heavy lifting,” he said.

Moving forward, Jackson said believes Flutter will undertake a comparable strategy during the leadership transition as he passes the baton to Taylor.

“We’re making the same type of decision again today,” said Jackson on the analyst call. “We see a significant opportunity to invest behind our leadership in US sports betting and iGaming, strengthening our proposition and positioning the business for future growth.” 

Taylor’s history at Flutter

Taylor joined Paddy Power Betfair in 2015 at the height of its UK&Ireland success, as managing director for the retail business. He also oversaw the develop of its Italian online business at the time. In February 2017 he was promoted to MD of the entire UK&I business, then to CEO in January 2018.

He played a pivotal role in Flutter’s £10 billion Stars Group acquisition in October 2019 and the subsequent integration of the Sky Bet business.

In November 2024 an internal restructure saw him take control of five regions within the international business, including the UK & Ireland (UKI), Asia-Pacific (APAC), Southern Europe & Africa (SEA), Central & Eastern Europe (CEE) and Brazil.

During Flutter’s Q1 earnings call Jackson said Taylor’s “track record of driving growth and executing on complex strategies, [made] him ideally suited for his expanded role”.

On the new role Taylor said in a statement this morning: “Our priority will be to keep delivering for our colleagues, customers and shareholders, while building on the momentum we’ve created across the business.

“The opportunities ahead are significant – both those we see in the market today and those we will create ourselves in the future. I look forward to leading the business as we continue to innovate, grow and build on the strengths that make Flutter unique.” 

FLUT’s share price was down 6% pre-market today, at $98.50. With Wednesday’s declines, Flutter is now down approximately 54% YTD.