Flutter chief executive Peter Jackson calls on Gambling Commission to 'think again' about affordability checks

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Flutter Entertainment chief executive Peter Jackson has called for the Gambling Commission to pause the introduction of affordability checks and "think again".

The Gambling Commission launched a pilot of the checks, termed financial risk assessments by the industry regulator, in 2024 and recommendations are believed to have gone to its board for consideration this month.

However, the Betting and Gaming Council has warned that inconsistent results from credit reference agencies mean the checks will not be frictionless as promised as operators will still have to check financial documents.

Flutter Entertainment chief executive Peter Jackson

Speaking after Flutter published a trading update for the first quarter of 2026, Jackson said: "We believe the Gambling Commission should pause the new affordability checks and think again.

“The industry pilot shows they will not be ‘frictionless’ – far from it – and the Gambling Commission risks pushing yet more customers towards illegal operators, in turn hitting customer safety and also tax receipts.

"We lead the industry on safety and trust and are very proud of that. We want to play our part. But rushing ahead with these checks in their current form will only help the illegal market."

In his letter to shareholders accompanying the results, Jackson said Flutter was "well placed" to deal with the increase in remote gaming duty in the UK announced in last year's budget and which came into force on April 1.

However, he warned that a consequence of the increase in taxes "will be to drive some UK customers toward unregulated operators".

He welcomed interventions such as the extra £26 million allocated to the Gambling Commission by the government to tackle the issue, adding: "We look forward to further steps to ensure that accessing illegal operators is restricted." 

Flutter Entertainment trading update key takeouts

• Group revenue up 17 per cent to $4.3 billion in the first quarter
• Flutter expects adjusted earnings for the year of $2.87bn, down on previous guidance due to punter-friendly sports results
• Amy Howe, chief executive of US arm FanDuel, is leaving the business
• Company is reviewing its listing on the London Stock Exchange

Flutter, owner of Paddy Power and Sky Bet, blamed punter-friendly sports results as it lowered its revenue and earnings guidance for the year. Group revenue for the quarter was up 17 per cent at $4.3 billion, while adjusted earnings were two per cent higher at $631 million.

However, Flutter updated its guidance for the full-year in 2026 due to unfavourable sports results in the first quarter and launch costs in the state of Arkansas.

As a result Flutter said that full-year revenue was expected to reach $18.3bn with adjusted earnings of $2.87bn, down from $18.4bn and $2.97bn respectively.

There has been a shake-up in the senior management at FanDuelCredit: Harry How (Getty Images)

The company's all-important US operation FanDuel reported sportsbook growth of just one per cent during the quarter and a smaller customer base than anticipated.

FanDuel's chief executive Amy Howe is now set to leave, with Christian Genetski assuming leadership of the business. Dan Taylor, currently chief executive of Flutter International, will assume the newly created role of president of Flutter Entertainment which includes oversight of FanDuel.

In the UK and Ireland revenue grew by two per cent, with gaming growth of 14 per cent tempered by sportsbook revenue falling 11 per cent due to an "unfavourable swing" in sports results. The company did however refer to there being "strong customer engagement during a record Cheltenham racing festival". 

Flutter also announced it was reviewing its secondary listing on the London Stock Exchange.

Jackson said the group's performance in the first quarter had been "encouraging". However, he added: "While we made good progress during the quarter, there remains more to do to ensure the improving US sportsbook trends continue and we announced today the management changes we are making to best position us for our next phase of growth. 

"The core fundamentals of our business remain strong, and I am confident that we have the right strategy, structure and global portfolio of local hero brands to capitalise on the significant long-term growth opportunity ahead. I look forward to further progress as we move through the rest of 2026." 

Flutter's share price fell by more than seven per cent in London on Thursday morning but recovered to close at 7,566p, down 1.7 per cent. 

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