New Flutter CEO Bets on FanDuel Promotions as Profits Fall

CNBC reported that Flutter CEO Dan Taylor is relying on better products and more generous FanDuel promotions to turn rising customer engagement into stronger profits. In the third quarter, average monthly players on FanDuel’s U.S. sportsbook rose 9% and bet counts increased 15%; across Flutter’s U.S. business, average monthly players gained 12%, including 24% growth in iGaming. Sportsbook handle rose 13%, while revenue increased 4% as promotional spending grew. Flutter reported third-quarter revenue of $3.87 billion, up 2%, and adjusted EBITDA of $360 million, down roughly 25% year over year; both missed analysts’ expectations. Its adjusted loss was 18 cents per share, narrower than the expected 28-cent loss. The company recorded a net loss of $1.15 billion, including an $873 million non-cash impairment tied primarily to Brazil. Flutter cut its full-year revenue midpoint by $300 million to $17.61 billion and lowered its 2026 adjusted EBITDA outlook by $160 million to nearly $2.5 billion. Taylor said the company plans to continue investing in customer experience and that FanDuel’s nationwide rewards program, launched in September, had gained traction.