Amy Howe has stepped down as CEO of FanDuel after over five years at the helm of the sportsbook. Howe, who began her journey with FanDuel in 2021, will be replaced by Christian Genetski, the current president of FanDuel. Flutter has yet to confirm if Genetski’s appointment is a permanent change or temporary.
This significant leadership shift arose just hours before Flutter’s earnings call for the first quarter on Wednesday. The company has seen a staggering decline of more than 54% in its stock this year.
A report by the New York Post indicates that Howe will receive a severance package of $4.37 million, which amounts to two years’ salary and bonuses, exceeding four times her base compensation.
Flutter’s stock fell another 2.5% on Wednesday afternoon and is down nearly 60% over the last year, attributed to investors distancing themselves from gaming stocks amid increased competition from prediction markets and economic pressures stemming from inflation and rising gas prices.
The announcement of Howe’s departure was first reported by CNBC. During the earnings call, CEO Peter Jackson expressed gratitude for Howe’s leadership and contributions to the organization. “I want to extend my thanks to Amy for her invaluable contributions to Flutter and FanDuel and acknowledge the impact she made since her arrival in 2021,” Jackson said. “We wish her great success in her future endeavors.”
Jackson remarked that “this change is timely” and asserted that the company’s overarching strategy will remain unchanged. Internal communications shared with FanDuel employees by both Howe and Genetski, which were accessed by Front Office Sports, framed this transition as amicable, without directly labeling her exit as a termination.
“As I write this, I feel a deep sense of gratitude and pride for what we’ve achieved together as leaders in online gaming,” Howe stated. “After five incredible years, it’s time for me to step back from FanDuel and embark on a new journey.”
Genetski commended Howe’s leadership in his message to the staff, stating that under her guidance, FanDuel has “achieved unprecedented success across all key metrics.” “Transitions can be challenging, but I am confident in our path forward,” he added.
This executive transition occurs amid a broader evolution within the sports betting sector. Established sportsbooks like FanDuel and DraftKings are navigating intensified competition from prediction-market platforms such as Kalshi and Polymarket, which permit users to place bets on sports outcomes in nearly every U.S. state.
The emergence of these platforms has spurred numerous legal disputes and increased regulatory scrutiny, particularly regarding whether sports event contracts should be classified as gambling products. Experts predict that this matter could potentially reach the U.S. Supreme Court.
In response, both FanDuel and DraftKings introduced their own prediction-market offerings late last year to preserve market share and draw in clients in anticipation of further state-level legalization of sports betting.
Flutter announced that its revenue for the first quarter of 2026 exceeded $4.3 billion, reflecting a 17% increase from the same period last year. However, the company has revised its full-year revenue forecast downward to $18.3 billion from a previous estimate of $18.4 billion. Jackson deemed the quarterly results “modest” yet “promising.”
Furthermore, Flutter reported a 31% increase in betting handle during the quarter, recovering from the lackluster growth observed in 2025, which the company had attributed to less thrilling NFL matchups.
Flutter indicated that prediction markets have had a minimal impact on sportsbook growth thus far. The company views this sector as a significant growth prospect and a means to draw in customers prior to the legalization of sports betting in additional states.
It also mentioned that progress is being made on its prediction-market platform, FanDuel Predicts; however, it acknowledged that the fast-evolving and complex regulatory framework has posed challenges and delayed product launches.
Additionally, Flutter revealed that it started serving as a market maker in April for a substantial third-party prediction-market platform, ensuring liquidity to support trading operations. Jackson noted that the company sees monetization opportunities within this category and plans to broaden its market-making initiatives across other platforms.
Meanwhile, competitor DraftKings has faced similar investor pressures, with its stock declining over 31% this year. During its February Q4 earnings call, DraftKings reported a positive annual net income for the first time since its inception in 2012 and forecasted that its prediction-market project could eventually contribute “hundreds of millions” in annual revenue.