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US – FanDuel CEO steps down ahead of US listing

Matt King, the Chief Executive Officer of FanDuel, has given notice of his intention to leave the Group.

During his four years as CEO, Matt has overseen the transformation of the business from online daily fantasy sports operator to a market leader in US online sports betting and gaming.

Matt has agreed to remain with FanDuel while a search process is undertaken to appoint his successor.

The Flutter Board has previously stated it is assessing the potential merits of listing a small stake in FanDuel in the US. Whilst Matt’s departure will affect the timing of any potential US listing, the Board has said it will continue to keep this option under review.

Commenting on Matt’s decision, Peter Jackson, CEO of Flutter Entertainment PLC, said: “I would like to take this opportunity to thank Matt for his considerable contribution in helping to make FanDuel the US market leader it is today.

“FanDuel has achieved so much in the three years since PASPA was repealed and that is due in no small part to Matt’s leadership and the strong team built around him. While we will be sorry to see him leave, he leaves the business in great shape.

“We are starting the process of looking for a new CEO for FanDuel and we remain focused on maintaining our leadership position in the US market.”

Matt King added: “It has been a privilege to lead FanDuel over the last four years through what has been an incredibly exciting period for the company. With FanDuel well positioned for the next chapter of its growth and always an entrepreneur at heart, now is the time for me to take on new opportunities as the next step in my career.

“I want to thank Peter and the whole Flutter team for their unwavering support since acquiring FanDuel three years ago. I have no doubt that the business will continue to go from strength to strength and I wish all of my colleagues the very best for the future as they pursue the next stage of growth.”