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Flutter Entertainment, the parent company of FanDuel, reported second-quarter 2026 revenue of $4.326 billion, up 3% year over year, while adjusted EBITDA fell 45% to $508 million. The company also lowered its full-year guidance and said CEO Peter Jackson will hand over to Dan Taylor on Oct. 1, 2026.
For U.S. readers watching FanDuel, Flutter said the brand maintained its No. 1 position in both sportsbook and iGaming. The company reported U.S. revenue of $1.683 billion for the quarter, down 6% from a year earlier, with sportsbook revenue down 15% and iGaming revenue up 14%.
FanDuel market share stayed strong despite softer U.S. quarter
Flutter said FanDuel held 39% U.S. sportsbook gross gaming revenue market share and 27% iGaming gross gaming revenue market share in the quarter. Average monthly players across the group totaled 14.287 million, down 11% year over year.
At the group level, Flutter posted a net loss of $296 million, compared with net income of $37 million in Q2 2025. International operations helped offset some of the U.S. softness, with revenue outside the U.S. rising 10% to $2.643 billion. International sportsbook revenue increased 14%, while international iGaming revenue rose 7%.
Flutter trims 2026 guidance, says early Q3 trading is ahead of expectations
Flutter lowered the midpoint of its full-year 2026 guidance to $17.91 billion in revenue and $2.655 billion in adjusted EBITDA. That represented reductions of $395 million and $210 million, respectively.
The company said early third-quarter trading was ahead of expectations, helped by FIFA World Cup knockout-stage engagement and slightly favorable sports results. Flutter also said it expects to generate about $50 million of revenue from market-making in 2026.
Separately, the company said it is launching phase two of its cost transformation program and expects $500 million in gross savings by 2029.
CEO transition and balance sheet updates
Jackson said, “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.” Dan Taylor is set to become CEO on Oct. 1.
Flutter ended the quarter with about $1.6 billion in available cash and net debt of $10.480 billion. Its leverage ratio was 4.3x at June 30, 2026, up from 3.7x at Dec. 31, 2025.
For FanDuel users, the update does not announce any immediate product or market changes. The next items to watch are Flutter’s leadership transition in October and whether its stronger early-Q3 trading carries through the rest of 2026. As always, gamble responsibly.
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Source: As reported by globenewswire.com.
