FanDuel CEO Amy Howe has been removed from her position after five years leading the sports betting giant, with company president Christian Genetski set to take over the role.

Howe had led FanDuel since 2021, guiding the nation's largest sportsbook through a period of rapid expansion as sports gambling proliferated across multiple US states. Her tenure concluded following the controversial decision to shut down FanDuel TV, the American racing channel that had served as a key promotional platform for horse racing and wagering while broadcasting live racing from tracks nationwide.

The leadership change comes at a turbulent time for the gambling sector. Shares of Flutter, FanDuel's parent company, dropped 4% on Wednesday following news of the executive departure, extending a brutal 12-month period that has seen the stock plunge nearly 60%. The sell-off reflects broader industry pressures, including emerging competition from prediction markets and mounting concerns about consumer spending amid rising fuel costs and inflation.

The market downturn has not been isolated to Flutter. DraftKings, FanDuel's primary competitor, has seen its shares decline 30% over the same period as investors reassess the gambling sector's near-term prospects.

The closure of FanDuel TV under Howe's leadership had drawn particular criticism from racing stakeholders who viewed the channel as vital infrastructure for promoting wagering and maintaining visibility for American racing content. The decision to end operations effectively removed one of the few dedicated platforms showcasing live racing to a nationwide betting audience.

Genetski now inherits a company navigating choppy waters, with the twin challenges of deteriorating market sentiment and questions about strategic direction in an increasingly competitive landscape.

Image FanDuel