Flutter Entertainment announced a major leadership shake-up, with FanDuel CEO Amy Howe departing after five years and receiving $4.37 million in severance. Christian Genetski, FanDuel's president since 2015, steps into the CEO role, while Dan Taylor assumes a newly created group-level president position overseeing both FanDuel and Flutter's international portfolio.
Departure and Severance Details
According to an SEC 8-K filing, Flutter and Howe agreed to her departure on April 30, with the formal separation agreement signed May 5 and employment terminating May 6. Howe will receive severance of $4,370,828 – equal to 24 months of her $1.03 million base salary plus bonus opportunity – along with time pro-rated and fully vested equity awards and up to 12 months of company-paid health insurance. The agreement also includes time pro-rated vesting of the “Value Creation Award” granted in October 2021 under its existing terms.
New Leadership Structure
Christian Genetski will lead the U.S. business while retaining his responsibilities for corporate strategy, business development, strategic partnerships, legal, regulatory, and government affairs. Dan Taylor, formerly CEO of Flutter International, was appointed President of Flutter Entertainment, overseeing FanDuel in addition to the international portfolio comprising Paddy Power, Betfair, Sportsbet, PokerStars, and Sisal. Flutter CEO Peter Jackson stated: “With significant growth potential ahead, we have decided this is the right moment for new leadership at FanDuel.”
Q1 2026 Performance and Restructuring Rationale
Flutter reported group revenue of $4.3 billion for Q1 2026, up 17% year-over-year. However, U.S. revenue grew only 6% to $1.76 billion, with U.S. sportsbook revenue up just 1%. Jackson told Reuters: “It’s no secret that FanDuel has underperformed, but looking forward, we’ve got to get the right team in place to support the business.” The restructuring comes as Flutter also lowered its FY 2026 EBITDA guidance from $2.97 billion to $2.87 billion.
Howe joined FanDuel in February 2021 from Ticketmaster, where she served as President and COO. During her tenure, FanDuel achieved a 39% gross gaming revenue share in U.S. sportsbook and 27% in iGaming, recorded its first profitable quarter, and reached a peak valuation of $31 billion. Mike Raffensperger, FanDuel’s President of Sports, also recently departed.
Market Reaction and Strategic Outlook
Flutter shares have fallen approximately 57% over the past year amid a broader selloff in gaming stocks tied to prediction-markets sector concerns. The company is reviewing a potential delisting from the London Stock Exchange to consolidate around its NYSE listing, according to commentary from Wednesday’s earnings call. Analysts view the U.S. underperformance as the primary catalyst for the reorganization, with the new leadership team tasked with reinvigorating growth in the competitive U.S. sports betting and iGaming market.