- FLUT
+1.86%
Key Points
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Flutter lowered its full-year outlook after Q2 adjusted EBITDA fell 45% and the company posted a $296 million net loss, citing higher U.K. gaming taxes, one-time tax costs, customer-friendly U.S. sports results and planned investment. Revenue guidance was reduced by $395 million to $17.91 billion, while adjusted EBITDA guidance fell by $210 million to $2.655 billion.
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U.S. strategy is shifting toward customer growth over near-term margins. Despite a 6% revenue decline, FanDuel reported stronger engagement around the NBA Finals and FIFA World Cup, and Flutter plans increased customer rewards and value investments; U.S. adjusted EBITDA is expected to be roughly break-even in Q3.
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Leadership and long-term efficiency plans are changing. CEO Peter Jackson will step down at the end of September, with Dan taking over Oct. 1, while Flutter targets more than $300 million in savings by 2027 and an additional $500 million by 2029 through technology efficiencies, reduced duplication and artificial intelligence.
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Flutter Entertainment (NYSE:FLUT) reported second-quarter revenue growth of 3% as strong customer engagement around the FIFA World Cup and acquisitions helped offset customer-friendly U.S. sports results and higher taxes in the United Kingdom.
The company also announced that Chief Executive Officer Peter Jackson will step down at the end of September after nearly nine years in the role. Jackson said Dan, whom he identified only by first name during the call, will take over as CEO on Oct. 1. Jackson said the incoming leader has been closely involved in the company’s strategy and execution.
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“After nearly nine years as CEO, this is the right time to hand over to Dan,” Jackson said, adding that he had “tremendous confidence” in the company’s future and its leadership team.
Profitability Declines Amid Investment and Tax Costs
Chief Financial Officer Rob Coldrake said adjusted EBITDA declined 45% during the quarter, reflecting the U.K. gaming-tax increase as well as planned investment in prediction markets and World Cup marketing. Flutter posted a net loss of $296 million, compared with net income of $37 million in the second quarter of 2025.
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Flutter Sees Post-Earnings Boost as FanDuel Shows Signs of Recovery
