Flutter Names Dan Taylor as CEO as Peter Jackson Steps Down and Group Cuts Guidance

^{Flutter Entertainment traces its origins to Ireland, where it is best known through the Paddy Power brand. (Photo: NTF30 / Wikimedia Commons)}

Flutter Entertainment has announced that chief executive Peter Jackson will step down after nearly nine years in charge, with Dan Taylor set to take over as group chief executive on 1 October 2026. The change was revealed on 5 August 2026 alongside the operator's second-quarter results, which showed a net loss and a cut to full-year guidance.

The handover lands at a testing moment for the world's largest online betting and gaming group. Flutter, which traces its roots to Ireland and remains best known at home through Paddy Power, posted a quarterly net loss of $296 million and lowered its 2026 targets, pointing to a tougher outlook for a company Irish players encounter every day.

Taylor, currently president of Flutter and chief executive of Flutter International, will succeed Jackson on 1 October 2026. Jackson said he would help manage the transition through the third quarter, ahead of the NFL season, before handing over fully at the end of the period.

A Rocky Quarter for Flutter

For the three months to 30 June 2026, Flutter reported revenue of $4,326 million, up 3% year on year, but swung to a net loss of $296 million from a $37 million profit a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation fell 45% to $508 million, and adjusted earnings per share came in at $0.49.

The group also lowered its full-year 2026 guidance, cutting expected revenue by $395 million to $17.91 billion at the midpoint and reducing its adjusted EBITDA target by $210 million to $2.655 billion. Flutter linked the downgrade to US market-making revenues, NFL schedule changes, and planned investment to strengthen FanDuel's sportsbook.

'After nearly nine years as CEO, I believe this is the right point in Flutter's journey for me to hand over the leadership of the business to Dan,' Jackson said in the results statement. '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.'

Alongside the results, Flutter set out the next phase of a cost programme targeting $500 million of gross savings by 2029. The quarterly loss also reflected historical tax provisions, including a $62 million charge tied to India's Junglee business and a $33 million US sales-tax accrual, as well as a UK gaming tax increase.

How FanDuel and International Markets Fared

In the United States, revenue fell 6% to $1,683 million, although FanDuel held its number-one positions in both sportsbook and iGaming, with market shares of 39% and 27% respectively. International revenue rose 10% to $2,643 million, with iGaming in the UK and Ireland up 7%.

Flutter's global scale is a long way from its beginnings as an Irish bookmaker, a contrast Jackson underlined in his farewell remarks. At home, the group is still met mainly through Paddy Power, one of the best-known names among online casinos in Ireland.

Attention now turns to how Taylor steers the group through the NFL season and delivers the promised savings. Flutter's next scheduled results will show whether the revised targets hold.