Following the announcement of Flutter Entertainment’s FanDuel chief executive departure, Matt King, we take a look at what is the next move for the firm and how will it impact its current activities.
King has been part of FanDuel for over four years and has experienced a very busy period of growth and transition, particularly as betting and gaming has been become legal in more states in America than ever before.
The popular daily fantasy sports and betting giant will now have to replace King with a new chief executive and it is believed that the departure may cause some disruption to FanDuel’s activities in regards to a proposed stake listing.
FanDuel is consistently preparing for its next phase of growth and expansion and King has stated that it is well positioned for what is to come, whilst exploring new career avenues.
Although the departure is now official, the current chief executive King will remain in the role until FanDuel finds a suitable replacement.
The parent company, Flutter Entertainment, has expressed its gratitude to King and has praised the position the firm is in from where it was to where it is now.
FanDuel is majority owned by flutter and has stated that it will keep the share listing option under review.
This announcement comes just one month after the leading betting and gaming brand became the official NFL sports betting partner and just two months after the firm reiterated its commitment to responsible sports betting by partnering with the American Gaming Association. Two huge milestones in the history of FanDuel.
Along with the above, King has oversaw many major and minor milestones within the operator’s activities and will undoubtedly leave a large hole in the company’s vision.
It is not yet clear who has been shortlisted to take over the prominent position of chief executive or whether a replacement has yet been lined up.
According to reports, a public listing could be delayed until a replacement is appointed and Flutter experienced a drop of around three-percent on the stock market at the time of the departure announcement.
Flutter Entertainment remains one of the world’s leading betting and gaming operations and is known for its popular brands Paddy Power, Betfair, FanDuel, Foxbet, Sportsbet, Sky Betting and Gaming and Pokerstars.
The firm’s brands offer some of the most innovative and thrilling casino games to play alongside its sports betting offering, including blackjack, American roulette, Bonanza, Divine Fortune, Dead or Alive, White Rabbit, Narcos, Montezuma Megaways and baccarat among others.