Ian Brown, who has been instrumental in a number of Flutter Entertainment’s recent horseracing projects, is stepping down as chief executive of the gambling giant’s UK & Ireland division.
He will be succeeded in January by Kevin Harrington as part of a restucture in which Flutter is set to streamline its operations, with the UK & Ireland coming under the umbrella of the group’s enlarged international division which will consist of all of the betting firm’s non-US operations.
Brown, who is leaving Flutter after two years in the role, has shown a keen interest in racing during his time with the parent company of Paddy Power, Betfair and Sky Bet. Flutter co-funded the Champions: Full Gallop docu-series as well as funding the recently announced David Power Jockeys’ Cup.
This year the company has also been at loggerheads with Arena Racing Company (Arc) over media rights payments, with some of its brands not offering early prices for meetings at the racecourse group’s tracks.
In an opinion piece published in the Racing Post during the summer, Brown urged British racing to embrace a greater level of change more quickly, arguing that the “underlying quality of the product is declining” and that it was becoming “unprofitable” for bookmakers.
Flutter Entertainment: listed on the New York Stock Exchange in May
Brown described his time at Flutter as “one of the most rewarding experiences of my career”, and added: “The transformation over the last two years has been tremendously exciting. I am particularly proud that we have taken share in a challenging market, investing in customer innovation and our people. Kevin has a deep knowledge of our business, and I am confident he will build on the strong momentum to take Flutter UK&I to new heights.”
Harrington, who joined Betfair in 2012 and has been chief executive at Flutter’s PokerStars brand since last July, will start his new role in January.
He said: “I’m incredibly proud to be given the chance to take over and run a business I first joined more than a decade ago. I want to continue the work that has made Flutter the clear market leader across the UK and Ireland and maintain the high standards we have set – with responsible gambling at the core of all our work.”
The US has increasingly become the focus for Flutter Entertainment, with its primary stock market listing moving to New York from London in May. The betting operator, which includes brands such as Paddy Power, Betfair and Sky Bet, raised its revenue and earnings forecasts for the year in its most recent market update this month.
Peter Jackson, Flutter’s chief executive, said: “Ian’s time at Flutter has been enormously successful. He has transformed the UK & Ireland business on almost every metric and he will be a hard act to follow. Kevin’s promotion is very well deserved and the business will be in safe hands as we embark on the next phase of our growth plan.”
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