Flutter Restructures US Operations as FanDuel CEO Howe Departs With $4.37M Severance

Genetski Takes Over While Flutter Names Group-Level President

Per the press release, Howe will receive severance of $4,370,828 – equal to 24 months of her $1.03 million base salary plus bonus opportunity – alongside time pro-rated and fully vested equity awards and up to 12 months of company-paid health insurance.

According to an SEC 8-K filing, Flutter and Howe agreed to her departure on April 30, with the formal Separation Agreement signed May 5 and her employment terminating May 6. The agreement includes time pro-rated vesting of the “Value Creation Award” granted to Howe in October 2021 under its existing terms.

Christian Genetski, FanDuel President since 2015, will assume leadership of the US business in addition to his existing responsibilities for corporate strategy, business development, strategic partnerships, legal, regulatory, and government affairs.

Flutter also created a new group-level role, appointing Dan Taylor as President of Flutter Entertainment alongside his existing position as CEO of Flutter International. Taylor will oversee the FanDuel business in addition to the international portfolio that includes Paddy Power, Betfair, Sportsbet, PokerStars, and Sisal.

Q1 results suggest U.S. underperformance as the reason behind this restructuring. Flutter reported group revenue of $4.3 billion for Q1 2026, up 17% year-over-year, but U.S. revenue grew only 6% to $1.76 billion, with US sportsbook revenue up just 1%. CEO Peter Jackson said the decision to depart was not Howe’s, telling Reuters: “It’s no secret that FanDuel has underperformed, but looking forward, we’ve got to get the right team in place to support the business.” In Flutter’s official statement, Jackson said: “With significant growth potential ahead, we have decided this is the right moment for new leadership at FanDuel.”

Howe joined FanDuel in February 2021 from Ticketmaster, where she served as President and Chief Operating Officer. During her tenure, FanDuel established a 39% gross gaming revenue share in the U.S. sportsbook market and 27% in iGaming. The company achieved its first profitable quarter and reached a valuation of $31 billion at its peak. Mike Raffensperger, FanDuel’s President of Sports, also departed the company recently.

Flutter shares are down approximately 57% over the past year amid broader selloffs in gaming stocks tied to prediction-markets sector concerns. The company is also reviewing a potential delisting from the London Stock Exchange to consolidate around its NYSE listing, according to commentary from Wednesday’s earnings call.