FanDuel Removes Amy Howe as CEO After Five Years

^{Amy Howe will cash in over $4 million in severance payments from FanDuel after serving as the only female CEO for a major gambling company in the U.S. (Photo: Sipa USA / Alamy)}

Flutter Entertainment announced Wednesday that Amy Howe was leaving her position as Chief Executive Officer of FanDuel, ending a five-year stint as the leader of one of North America’s leading sportsbook brands.

Howe took over as CEO in 2021 after working at Live Nation and McKinsey. Flutter announced her ouster on the same day it released its first quarter earnings report.

‘The Right Moment for New Leadership’

According to multiple media reports, FanDuel will pay Howe $4.37 million in severance, which represents two years of her base pay and annual bonuses.

“With significant growth potential ahead, we have decided this is the right moment for new leadership at FanDuel,” Peter Jackson, the Group CEO of FanDuel’s parent company Flutter, said in a statement. “I would like to thank Amy for her contribution to Flutter and FanDuel and recognize the impact she has had on the business since joining in 2021.”

Flutter also announced that FanDuel President Christian Genetski, who has been with the company since 2015, would assume leadership of FanDuel.

“I’m delighted that Christian will lead the business,” Jackson said. “He has a strong track record at FanDuel and deep market knowledge, and we are confident he will build momentum and continue strengthening FanDuel’s position as the leading online sportsbook and iGaming operator in the U.S.”

Howe was the only female CEO of a major U.S. gambling company. She was brought into her role after having previous experience leading companies that were in transition and under public scrutiny – a good fit given the rapid expansion of sports betting across the United States over the past several years.

She was also known as a leader in responsible gaming initiatives, particularly among younger adults. During her tenure, Howe refused to sign name, image, and likeness (NIL) deals with college athletes and did not place advertisements at college stadiums.

Prediction Markets Eat Into Sports Betting Profits

But Flutter's stock price has plummeted over the past year, down nearly 60%. While other online gambling firms have also suffered in the face of declining disposable income and the rise of prediction markets, FanDuel’s drop has been notably severe, with DraftKings dropping approximately 29 percent during the same period.

Still, Howe says that her time at FanDuel was positive for her and the company.

“It has been a privilege to lead FanDuel over the past five years,” Howe wrote in a statement. “Together, we have established a clear leadership position in the market, strengthened our product and brand, and built strong foundations for future growth. With the business well-positioned for what comes next, I believe this is the right moment to hand over to new leadership to build on that progress and capture the opportunities ahead.”

Flutter's stock closed at 99.11 on the New York Stock Exchange at the end of trading on Wednesday, down about 4% from its opening price.