The CEO of FanDuel has been pushed out after five years leading the sportsbook, sources confirmed to Front Office Sports.
Amy Howe, who joined FanDuel in 2021, will be replaced by current FanDuel president Christian Genetski. It was not immediately clear whether he will be named CEO on a temporary or permanent basis. The news broke just a few hours ahead of the first-quarter earnings call for FanDuel’s parent, Flutter Entertainment, whose stock is down more than 54% year-to-date.
The news of Howe’s ouster was first reported by CNBC. During the first-quarter earnings call Wednesday afternoon, Flutter CEO Peter Jackson said he “would like to thank Amy for her contribution to Flutter and FanDuel, and recognize the impact she has had on the business since joining in 2021. We wish her every success for the future.
“Now is the right time” for new leadership, Jackson said. “There’s no change in our strategy or posture of the business.”
Separate emails sent internally to FanDuel employees Wednesday by Howe and Genetski, which were obtained by FOS, did not explicitly say she was ousted.
“As I sit down to write this, I’m filled with a combination of gratitude and tremendous pride for what we’ve accomplished together as the industry leader in online gaming,” Howe wrote. “After more than five unforgettable years, the time has come for me to step away from FanDuel and begin a new chapter.”
Genetski wrote: “I know you have only had a moment to read and digest the lovely farewell note from Amy. I’d like to share a few personal reflections before turning to what comes next.” He said FanDuel has “risen to new heights across every measurable metric” under her leadership. “That is a testament to her steadfast commitment to hard work and the pursuit of excellence.
“Periods of transition can be difficult to wrap your head around,” Genetski added.
The entire sports betting industry has found itself in a period of transition over the last year, grappling with increased competition from prediction-market companies like Kalshi and Polymarket. Those platforms allow users to put money on sports in all 50 states, minus Nevada right now, where the state’s gaming commission has scored tentative legal victories barring Kalshi and Polymarket from offering sports event contracts.
There are dozens of lawsuits winding through the court system, and experts expect the issue will eventually reach the U.S. Supreme Court. But despite the controversy over sports event contracts, gambling giants like FanDuel and DraftKings have been forced to confront the new competitors. Each company launched prediction-market platforms late last year. DraftKings has similarly faced stock struggles; shares are down more than 31% year-to-date.
Lowered Guidance
For the first quarter of 2026, Flutter posted revenue of a little over $4.3 billion, 17% higher than the same time period last year. Jackson described its Q1 revenue as “modest” but “encouraging.” The company also lowered its full-year guidance; projected revenue for 2026 is now $18.3 billion, down from $18.4 billion.
On Wednesday, Flutter reported 31% handle growth—or total dollars bet by customers—for the first quarter. (In February, Flutter posted 2025 handle growth of 3%, which fell short of expectations; the company chalked that up to “poor football matchups” in the NFL season and playoffs.)
Flutter said in its earnings release Wednesday it has “continued to see only a limited cannibalization impact” from prediction markets on sportsbook growth. It views prediction markets as a “very attractive, incremental opportunity” that provides a route to “acquire customers ahead of sports betting regulation in new states.” The company also said it’s “making good progress” on its prediction-market platform, FanDuel Predicts, while acknowledging that the “fast moving and complex regulatory environment means that product delivery timescales have at times been challenging.”
Market Maker
In addition, Flutter revealed that in April it began acting as a market maker for a “major, third-party prediction-market platform”—meaning it now provides liquidity by posting bid and ask prices for contracts to enable trading. Other market makers in the industry include Susquehanna International Group and Jump Trading.
Jackson said there is “opportunity to monetize this category” through market making, and that the plan is to provide market making “on as many platforms as we can.”
During its own Q4 earnings call in February, DraftKings reported positive net income—$3.7 million on the year—for the first time in company history (DraftKings was founded in 2012). It was also more forthright about its prediction-market plans, with CEO Jason Robins saying the company is “moving with urgency” and forecasting “hundreds of millions in annual revenue for DraftKings Predictions in the years ahead.”
