DUBLIN, Nov 4 (Reuters) – New Flutter CEO Dan Taylor said the betting giant will pause its share buyback programme for the foreseeable future to prioritise organic investment and deleveraging, while also targetting a further $500 million in cost savings by 2029.
Taylor said his four immediate priorities would be building on its US leadership position, capturing the opportunity in the nascent prediction market sector, driving more value from its non-US portfolio and simplifying the company’s operating model.
Taylor set out his staregy as the world’s largest online betting company cut its full-year core profit forecast for a fifth successive quarter between a disappointing end to 2025 and struggles in the previously booming U.S. market this year.
“Delivering against those priorities will require faster execution, tough decisions and disciplined investment,” Taylor, a company veteran who took charge last month, said in a statement.
(Reporting by Padraic Halpin; editing by Yoruk Bahceli)
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