Amy Howe nets FanDuel CEO role on permanent basis

Flutter Entertainment has appointed FanDuel president Amy Howe as the US operator’s new permanent chief executive.

The former Ticketmaster COO was named interim CEO in July following the departure of long-standing boss Matt King, who eventually joined Fanatics in June.

Howe has served as president of FanDuel since February 2021 and in that role was responsible for leading the operator’s key functions across sportsbook, casino, racing and DFS.

During Flutter’s Q2 August conference call, Flutter CEO Peter Jackson suggested the firm was “very close” to finding a new full-time CEO, describing the job as a “very attractive” opportunity for the right candidate.

Commenting on the decision to make Howe’s interim position permanent, Jackson said: “Since joining the business at the start of this year, she has done an excellent job of leading our commercial functions and ensuring that we execute well at this critical phase of growth for our business.

“The expansion of the US market represents the single most exciting opportunity for Flutter today.

“Amy’s track record of leadership and experience in scaling a digital business will be invaluable as we look to grow our leadership position there,” he added.

FanDuel CEO Amy Howe

Speaking on her transition to CEO from president, Howe said FanDuel needs to “avoid complacency” to execute its long-term strategy of cementing its position as US market leader.

“Since joining the business, I have been very impressed by the quality of our team and the strategic advantages we enjoy in terms of brand reach, product quality and the broad expertise we leverage from being part of the wider Flutter Group,” said Howe.

“That said, we must avoid complacency and remain focused on executing on our long-term strategy to build the embedded value of the business,” she added.

FanDuel is expected to IPO in 2022, a process which was first derailed by legal issues relating to its partnership with Fox Corp and latterly by the departure of King as CEO.

Flutter is currently engaged in arbitration talks with Fox Corp over its 18.6% stake in FanDuel.

Under the terms of the agreement between the two parties, Fox can purchase the stake based on a “fair market valuation” of the business as at July 2021.

However, Fox has disputed this, claiming the valuation should be based on a December 2020 valuation, when Flutter bought a 37.2% share in the FanDuel business from FastBall Holdings.

The New York Judicial Arbitration and Mediation Service is still considering the lawsuit.

Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images