Flutter CEO admits FanDuel predictions were ‘not competitive’

Flutter also cut 2026 adjusted EBITDA guidance & paused buybacks after Brazil’s gambling shutdown.

The hit

Flutter CEO Dan Taylor says FanDuel’s prediction markets product, which he found uncompetitive when he arrived in spring, has made tremendous progress in recent months. The admission came as Flutter cut 2026 guidance, blaming Brazil’s online gambling shutdown & unlucky sports results, according to SBC Americas.

Why it matters

Taylor has named prediction markets one of four immediate priorities for Flutter, alongside US leadership, its international portfolio & simplifying operations. The shift away from Crypto.com’s sports contracts has let FanDuel acquire customers in states without legal sports betting at lower cost. Taylor said it positions FanDuel for future legalisation.

The record

2026 adjusted EBITDA guidance	$2.495bn, down $160m (Flutter)
2026 revenue guidance	$17.61bn, down $300m from prior midpoint (Flutter)
FanDuel 2026 adjusted EBITDA	$715m, down 22% from 2025 (Flutter)
Brazil impairment	$873m non-cash charge (Flutter)
Debt-to-EBITDA ratio	4.6x at quarter end (Flutter)
Share buybacks	paused for ‘foreseeable future’ after $5bn programme approved Sept 2024 (CFO Rob Coldrake)

What happens next

Watch FanDuel’s prediction markets metrics in Flutter’s Q4 results, plus whether leverage returns to its 2-2.5x target range over the medium term, after significant deleveraging through next year, CFO Rob Coldrake said.

Sources: SBC Americas – Flutter CEO confident FanDuel predictions finally becoming competitive · Legal Sports Report – Flutter CEO focus on building FanDuel leadership

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