Flutter CEO Dan Taylor pivots to rewards to stabilize FanDuel

Taylor, who took the helm five weeks ago, faces a challenging landscape marked by a $1.15 billion net loss and an $873 million impairment charge stemming from Brazil’s recent gambling ban. While total U.S. average monthly players grew 12% in the third quarter, increased promotional spending constrained revenue growth to just 4%. The company has subsequently lowered its full-year revenue forecast by $300 million to $17.61 billion.

Despite the fiscal headwinds, Taylor maintains that the core business is gaining traction. FanDuel’s sportsbook handle rose 13%, and the platform’s prediction app, FanDuel Predicts, added 140,000 users in October alone. To restore investor confidence, the company is prioritizing debt reduction over capital returns, aiming to bring leverage back to a target range of 2 to 2.5 times within two years. Taylor remains optimistic about the U.S. market, noting that significant portions of the country still lack access to regulated sports betting and online gaming.