{"id":974,"date":"2026-08-06T18:58:00","date_gmt":"2026-08-06T22:58:00","guid":{"rendered":"https:\/\/news.mr-gamble.com\/us\/?p=974"},"modified":"2026-08-06T10:12:42","modified_gmt":"2026-08-06T14:12:42","slug":"3b-wiped-off-us-igaming-stocks-as-flutter-draftkings-slide","status":"publish","type":"post","link":"https:\/\/news.mr-gamble.com\/us\/3b-wiped-off-us-igaming-stocks-as-flutter-draftkings-slide\/","title":{"rendered":"$3B Wiped Off US iGaming Stocks as Flutter, DraftKings Slide"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Major US iGaming stocks lost roughly $3 billion in value after Flutter cut guidance and replaced its CEO, with DraftKings sliding in sympathy.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"738\" height=\"414\" src=\"https:\/\/cdn-news.mr-gamble.com\/sites\/2\/Flutter.jpeg\" alt=\"\" class=\"wp-image-976\" srcset=\"https:\/\/cdn-news.mr-gamble.com\/sites\/2\/Flutter.jpeg 738w, https:\/\/cdn-news.mr-gamble.com\/sites\/2\/Flutter-300x168.jpeg 300w\" sizes=\"auto, (max-width: 738px) 100vw, 738px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shares across the US online gambling sector took a sharp hit this week, led by an 11% slide in Flutter Entertainment after the FanDuel parent cut its full-year guidance and announced a CEO change.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Flutter shares closed at $92.91, down 11.5% and near a 52-week low, after a Q2 net loss and its fourth straight guidance cut<\/li>\n\n\n\n<li>CEO Peter Jackson will step down September 30, succeeded by Flutter International head Dan Taylor on October 1<\/li>\n\n\n\n<li>DraftKings shares fell roughly 8% the same day, trading in sympathy ahead of its own earnings report<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">The Numbers at a Glance<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Company<\/th><th>Move<\/th><th>Context<\/th><\/tr><\/thead><tbody><tr><td>Flutter Entertainment<\/td><td>-11.5%, closed at $92.91<\/td><td>Near 52-week low, down ~65% over the past year<\/td><\/tr><tr><td>DraftKings<\/td><td>~-8%, to roughly $21.75<\/td><td>Down ~37% year to date ahead of Thursday&#8217;s earnings<\/td><\/tr><tr><td>Flutter FY26 EBITDA guidance<\/td><td>Cut to $2.655B (from $2.865B)<\/td><td>Fourth consecutive quarterly guidance cut<\/td><\/tr><tr><td>Flutter FY26 revenue guidance<\/td><td>Cut to $17.91B (from $18.3B)<\/td><td>Midpoint reduction of $395M<\/td><\/tr><tr><td>Flutter net debt\/EBITDA<\/td><td>4.3x<\/td><td>Up from 3.7x at the end of 2025<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">What Happened at Flutter<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Flutter posted a $296 million net loss for the second quarter, a sharp reversal from the $37 million profit it reported a year earlier, even as group revenue climbed 17% to roughly $4.3 billion. The company&#8217;s US segment took the brunt of the damage, with adjusted EBITDA there falling 70% and sportsbook revenue down 15% year over year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alongside the results, Flutter lowered its full-year 2026 guidance for a fourth consecutive quarter, pointing to softer US sportsbook performance and continued investment in that business as the main drivers behind the reduction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Leadership Change<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Flutter simultaneously announced a leadership change. Peter Jackson, who has led the company for nearly nine years, will step down at the end of September and stay on as an adviser through year-end. Dan Taylor, currently head of Flutter&#8217;s international division and only appointed group president in May to help turn around the underperforming US business, takes over as CEO on October 1.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why the Sector Sold Off Together<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Flutter&#8217;s stock has now fallen roughly 65% over the past year, with investors increasingly weighing how fast-growing <a href=\"https:\/\/news.mr-gamble.com\/us\/prediction-market-regulation-2026-what-bettors-need-to-know\/\">prediction market platforms<\/a> might cut into traditional sports betting volume, a concern that gained more weight after <a href=\"https:\/\/news.mr-gamble.com\/us\/kalshi-polymarket-trading-volume-hits-50b-record-in-july\/\">Kalshi and Polymarket posted a record $50 billion in July trading volume<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That concern rippled beyond Flutter itself. DraftKings shares dropped about 8% the same day, trading largely in sympathy with Flutter&#8217;s results ahead of its own second-quarter earnings report, due out later this week. DraftKings entered the week already down close to 37% year to date.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some analysts pushed back on the more pessimistic read. One gaming analyst described the quarter as a &#8220;messy reading&#8221; between the earnings miss, guidance cut, and leadership change, but said he remained constructive on the stock given FanDuel&#8217;s underlying customer growth. Flutter noted its loyalty program had reached 70% of customers during the quarter and is set to roll out nationally by football season.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What&#8217;s Next<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Flutter is also restructuring parts of its prediction markets business, shifting its sports and novelty contracts from CME to Crypto.com, while CME continues handling its financial market contracts. This comes as <a href=\"https:\/\/news.mr-gamble.com\/us\/sportradar-expects-prediction-markets-to-drive-growth\/\">Sportradar has separately told investors it expects prediction markets to become a meaningful growth driver<\/a> rather than a threat, a notably different read on the same trend rattling Flutter and DraftKings investors this week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With DraftKings reporting its own results later this week, investors will be watching for whether the sector-wide pressure on sportsbook volume and prediction market competition shows up in its numbers too.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major US iGaming stocks lost roughly $3 billion in value after Flutter cut guidance and replaced its CEO, with DraftKings sliding in sympathy. Shares across &#8230; <a title=\"$3B Wiped Off US iGaming Stocks as Flutter, DraftKings Slide\" class=\"read-more\" href=\"https:\/\/news.mr-gamble.com\/us\/3b-wiped-off-us-igaming-stocks-as-flutter-draftkings-slide\/\" aria-label=\"Read more about $3B Wiped Off US iGaming Stocks as Flutter, DraftKings Slide\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-news"],"_links":{"self":[{"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/posts\/974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/comments?post=974"}],"version-history":[{"count":1,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/posts\/974\/revisions"}],"predecessor-version":[{"id":977,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/posts\/974\/revisions\/977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/media\/976"}],"wp:attachment":[{"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/media?parent=974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/categories?post=974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.mr-gamble.com\/us\/wp-json\/wp\/v2\/tags?post=974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}