Gary McGann concluded his seven-year term as chairman on Thursday. John Bryant has recently taken over as chairman, in addition to his role as chair of Flutter’s nomination committee.
Mr. Bryant expressed gratitude for Gary’s exceptional guidance of the Flutter board and praised his expertise, professionalism, and commitment. He wished Gary success in his future endeavors on behalf of the board.
John Bryant, who joined Kellogg Company in 1988 and became CEO in 2011, brings a wealth of experience to his new role.
At 73 years old, Gary McGann is highly regarded as one of Ireland’s most seasoned senior executives. He has held significant leadership positions at Smurfit Kappa, Aer Lingus, Aryzta, Stephen Vernon’s Green REIT, Sisk, The Ireland Funds, and Aon Ireland.
During Gary’s tenure as chair of Flutter, the company has experienced rapid expansion in the United States, particularly with its FanDuel brand, under CEO Peter Jackson’s leadership. Flutter’s US operations have become profitable ahead of schedule, benefitting from the legalization of sports betting in several states and attracting a significant customer base.
In the first half of the year, Flutter reported a 42% increase in group revenue, reaching £4.8bn (€5.5bn), and a 76% increase in group earnings before interest, tax, depreciation, and amortization (EBITDA), reaching £765m. The United States contributed significantly to this result, generating £1.8bn in revenue, a 71% YoY increase. The adjusted EBITDA for Flutter’s US business was £49m during this period.
Flutter’s customer base in the US has grown by 43%, with an average monthly user count of 3.1 million.
The company is considering a stock market listing in the United States and evaluating whether to retain its listing in Ireland. While Flutter’s primary share listing is currently in London, a potential shift to the United States is being explored.
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