John Bryant Announced as New Chair of Flutter Entertainment
LISTEN TO THIS ARTICLE:Industry veteran John Bryant has stepped into his role as the new Chair of the board at gambling group Flutter Entertainment.
Announced back in April, Bryant officially assumed his position on September 1, succeeding the previous chairman, Gary McGann.
His responsibilities will include providing effective leadership to the board and the company as a whole, as well as ensuring the group complies with all relevant laws, regulations, and industry standards.
Having had extensive experience in guiding a global consumer goods company and substantial expertise in financial, operational, and strategic leadership, Flutter considered the Australian to be a perfect fit for the role.
Previous Experience
While commenting on Bryant’s appointment in April, Flutter CEO Peter Jackson expressed his eagerness to work with Bryant, stating that his wealth of experience will prove invaluable to Flutter as the company continues to “execute its growth strategy.”
Bryant presently serves as Non-Executive Director for Compass Group plc, Ball Corporation, and Coca-Cola European Partners. He also worked at Kellogg Company for two decades, from 1998 to 2018, during which he held a range of senior positions, including CEO and chairman.
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. His expertise, professionalism and commitment are greatly appreciated and on behalf of the board, I wish Gary well in the future.
Flutter Revenue Boost
Bryant joins Flutter at a critical juncture in the company's journey as it transitions from low profitability to potentially experiencing high profits. Last month, Flutter released its financial results for H1 2023, showing group revenue up by 41.9% in the six months to 30 June.
During the fiscal period, the company’s net loss also transformed into a profit. The group ascribed its revenue boost to the strong performance of its U.S. segment. According to the CEO, the US brand acquired over two million players in the period, and increased its share in the US gaming market to 23%.
The company has also shown great potential in other regions like the UK and Ireland. Revenue in these two jurisdictions increased by 13.7% to £1.24 billion.
The notable challenge for Flutter in the first half was the performance of its Australian business Sportsbet. Here, the brand suffered a 1.8% year-on-year decrease to £601m, primarily due to a 4.9% decrease in sportsbook stakes, amounting to £4.95 billion.
FanDuel is the parent company of several leading iGaming brands like Betfair, FanDuel, and Paddy Power. The group recently announced its membership of WiHTL (Women in Hospitality, Travel, and Leisure).
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