Flutter Entertainment Welcomes John Bryant as New Chair

Article ByDavid Weir

September 4, 2023

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Posted in: US Gambling News, US Sports Betting News

Flutter Entertainment, the Irish betting giant that owns the largest U.S. sportsbook network, FanDuel, has officially appointed John Bryant to the role of chair of the board of directors.

This transition, which was first announced back in April, took effect on September 1. It saw Bryant replace Gary McGann, who was at the helm of Flutter for almost nine years.

His tenure saw Flutter grow from a local operator to the international gambling conglomerate it is today. Those key events included the merger of Paddy Power and Betfair and the acquisition of prominent brands like FanDuel and PokerStars.

Bryant doesn’t have much prior experience in gambling, but he is a U.S. corporate heavyweight. The Australian-American businessman’s career includes senior roles at large corporations like Coca Cola, Compass Group, and Kellogg.

Flutter appointing a prominent U.S.-focused chairman is another indicator that its long-planned migration to the New York Stock Exchange from London could soon be in the cards.

Excellent Stewardship

Gary McGann’s tenure as chair witnessed the transformative merger of Paddy Power and Betfair, culminating in the creation of Paddy Power Betfair (PPB). Under his watch, the company expanded its horizons by acquiring the U.S. fantasy sports platform FanDuel in 2018.

A year later, Flutter Entertainment further solidified its market position by merging with The Stars Group (TSG), bringing PokerStars and Sky Bet under its umbrella.

 “I would like to thank Gary for his excellent stewardship of the Flutter Board during his tenure as chair and previously as non-executive director,” said Bryant.

“His expertise, professionalism, and commitment are greatly appreciated, and on behalf of the board, I wish Gary well in the future.”

Flutter’s New Chapter

John Bryant is no stranger to leadership roles in global enterprises.

Before joining Flutter, he held various positions, including executive chairman, CEO, CFO, and COO at the Kellogg Company. Additionally, he has served as a nonexecutive director for several major corporations, including Ball Corporation, Compass Group PLC, and Coca-Cola European Partners plc.

As Flutter Entertainment continues to evolve, Bryant’s extensive experience in leading global consumer goods companies was no doubt an enticing prospect.

“This is an exciting new chapter for Flutter, given John’s extensive leadership experience at some of the world’s most renowned companies. We look forward to seeing the valuable contributions he will bring to the board,” said a company statement.

Profitability Point

Flutter Entertainment’s performance in the U.S. market has been particularly noteworthy.

The company recently announced that its U.S. business had reached a “profitability inflection point” during the first half of 2023.

This period saw the company’s total revenue rise to £4.81bn, a significant increase from £3.39bn in the previous year.

The U.S. sports betting market, dominated by the FanDuel brand, contributed a whopping £1.79bn to this revenue, marking a 71.0% increase.

The operator’s U.S. move has stalled somewhat. But negotiations with financial regulators and other stakeholders are ongoing.

“We’re working through the implications for our other listings on securing this U.S. listing, with the Securities and Exchange Commission (SEC) at the moment,” Flutter CEO Peter Jackson said in April.