FanDuel CEO Amy Howe has been ousted from the company after five years, people familiar with the matter told CNBC. Christian Genetski, FanDuel president, will step in to lead the company.
Howe, head of the nation's leading sportsbook, oversaw FanDuel during a time of dramatic expansion in sports gambling and other online gambling in multiple states. Shares of FanDuel parent company Flutter fell sharply in afternoon trading Wednesday, closing the day down 4%.
In February, Flutter issued 2026 guidance that missed Wall Street expectations. Flutter CEO Peter Jackson told CNBC following the earnings report that he wants to invest $300 million in FanDuel Predicts, the company's in-house predictions platform.
Howe is one of few women leaders in the industry and the only female CEO of a major gambling company. She has taken a leadership role in the industry on responsible gaming, refusing to advertise in college stadiums or do name, image and likeness, or NIL, deals with college athletes.