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Flutter Entertainmnt Announced FanDuel CEO Matt King to Leave Company; Departure to Affect Timing of U.S. Listing

Flutter (OTC: PDYPF) announces that Matt King, Chief Executive Officer of FanDuel Group, has given notice of his intention to leave the Group. During his 4 years as CEO, Matt has overseen the transformation of the business from online daily fantasy sports ...

05/12/2021 05:47
Flutter (OTC:PDYPF) announces that Matt King, Chief Executive Officer of FanDuel Group, has given notice of his intention to leave the Group. During his 4 years as CEO, Matt has overseen the transformation of the business from online daily fantasy sports operator to the 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. As previously announced, the Flutter Board has been 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 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 FanDuel has achieved so much in the 3 years since PASPA was repealed and that is due in no small part to Matt's leadership and the strong team built around him.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." FanDuel CEO Matt King said: "It has been a privilege to lead FanDuel over the last 4 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 3 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."