John Bryant has assumed the role of the new head of the board at the gaming conglomerate Flutter Entertainment. Bryant was selected in April and officially took charge from Gary McGann today (September 1st). The Australian also leads the nomination panel and acts as a non-executive director.
The organization, which possesses brands such as FanDuel and Paddy Power, characterized the former Kellogg’s CEO’s strengths as extensive experience in directing global consumer product enterprises and a wealth of expertise in finance, operations, and strategic leadership.
“I would like to express my gratitude to Gary for his exceptional leadership of the Flutter Board during his tenure as Chairman and previously as a Non-Executive Director,” stated Bryant. “His knowledge, professionalism, and commitment have been highly valued, and I extend my best wishes to Gary for the future on behalf of the Board.”
Bryant presently serves as a non-executive director of Compass Group plc, Brown-Forman Corporation, and Coca-Cola European Partners. He dedicated 20 years to Kellogg’s between 1998 and 2018, holding a variety of senior positions, including CEO and Chairman.
Flutter CEO Peter Jackson remarked in April: “I am truly looking forward to collaborating with John.”
His expertise will be essential for Flutter to keep executing its expansion plan.
Flutter achieved notable results in the initial six months of the year, especially in the American market. The company’s chief executive, Peter Jackson, labeled this period “pivotal” as its American operations hit a “profit inflection point” in the first half of 2023.
Flutter’s total income in the first half of the year reached £4.81 billion, a 42.2% jump from the same period last year. Of this, sports betting income was £3 billion and gaming income was £1.81 billion.
The United States was the primary driver of Flutter’s revenue growth in the initial six months of the year. Revenue increased by 71.0% year-over-year to £1.79 billion, of which 98% came from the FanDuel brand. Adjusted EBITDA also shifted from a £132 million loss last year to a £49 million profit.
Sign up for the iGaming News Newsletter