Flutter Entertainment announced that Peter Jackson will step down as CEO, to be replaced by Dan Taylor effective October 1. The leadership change comes as the company swings from a profit outlook to a loss.

The U.S. business continues to struggle, with second‑quarter sales down 6% largely due to a 15% drop in sportsbook revenue. Poor sports outcomes and a string of customer‑losing weeks have pressured the market.

Flutter cited subdued growth in the U.S. market and high levels of customer churn as key reasons for the revised outlook, signaling challenges that will likely persist unless the company can reverse the trend.

The announcement underscores the difficulty of scaling betting operations in a saturated market, while the company seeks to stabilize its international division under new leadership.