Flutter CEO Peter Jackson to Step Down; Q2 Revenue +3%
Flutter Entertainment plc announced its Q2 2026 results, alongside a significant leadership transition. CEO Peter Jackson will step down on October 1, 2026, and will be succeeded by Dan Taylor, President of Flutter and CEO of Flutter International. The company reported a 3% increase in Q2 revenue to $4,326 million, but a net loss of $296 million and a 45% decrease in adjusted EBITDA, primarily due to historical tax provisions, increased interest expenses, and strategic investments in the US. Full-year 2026 guidance for both revenue and adjusted EBITDA was reduced, reflecting increased investment in the US market and other factors, while a new cost transformation program aims for $500 million in gross savings by 2029.
Key Highlights
- Peter Jackson to transition from CEO role, succeeded by Dan Taylor on October 1, 2026.
- Q2 2026 Group revenue increased +3% to $4,326 million.
- Q2 2026 Group net loss was $296 million, compared to $37 million net income in Q2 2025.
- Q2 2026 Group adjusted EBITDA decreased -45% to $508 million.
- US revenue declined -6% to $1,683 million, with sportsbook -15% and iGaming +14%.
- International revenue increased +10% to $2,643 million, with organic revenue +4%.
- Updated full-year 2026 Group revenue guidance reduced to $17.91 billion (midpoint).
- Updated full-year 2026 Group adjusted EBITDA guidance reduced to $2.655 billion (midpoint).
- Initiated next phase of cost transformation targeting $500 million gross savings by 2029.
Price Impact
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