# New Flutter CEO bets on FanDuel promotions to win customers as profits suffer

- URL: https://talkfuse.com/story/new-flutter-ceo-bets-on-fanduel-promotions-to-win-customers-as-profits-suffer/
- Published: 2026-11-04T19:53:32+00:00
- Updated: 2026-11-05T04:28:13+00:00
- Original publisher: CNBC (publisher lean: Centre)
- Original article: https://www.cnbc.com/2026/11/04/flutter-fanduel-promotions-q3-2026.html
- Topics: Business, Companies

## Key points

- FanDuel engagement rose, while higher promotions weighed on sportsbook revenue.
- Flutter cut its 2026 forecasts after a weak quarter and Brazil impairment.
- Buybacks are paused while the company reduces debt.

## Summary

Flutter’s new chief executive, Dan Taylor, is betting that product changes and more generous rewards will turn rising FanDuel engagement into stronger profits. The strategy comes as Flutter’s third-quarter revenue and adjusted earnings missed analyst expectations, and its shares have fallen more than 60% this year.

FanDuel’s US sportsbook monthly players rose 9% and bet counts increased 15% in the quarter, but sportsbook revenue grew only 4% as promotional spending rose. Flutter reported revenue of $3.87 billion, up 2%, and adjusted EBITDA of $360 million, down about 25%; an $873 million non-cash impairment, mainly related to Brazil, contributed to a net loss of $1.15 billion. The company lowered its 2026 revenue midpoint by $300 million to $17.61 billion and its adjusted EBITDA outlook by $160 million to nearly $2.5 billion, while putting buybacks on hold as it pays down debt.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.