Flutter veteran Taylor to replace Jackson as CEO, profit guidance downgraded again

Dublin, Aug. 5 (Reuters) - Betting giant Flutter Entertainment named company veteran and head of its international division Dan Taylor as incoming CEO on Wednesday, succeeding Peter Jackson who said he and the board had agreed it was the right time for new leadership.

Taylor, who will take over from Oct. 1, had only assumed the expanded role of Flutter president in May to oversee the group's underperforming U.S. operations, part of a management shake-up at its market-leading FanDuel brand.

Flutter's second-quarter core earnings (EBITDA) fell 45% to $508 million, still above the $478 million average estimate of 19 analysts with LSEG SmartEstimate.

However, it forecast a 7% fall in full-year core profit to $2.65 billion, below the $2.87 billion it flagged in May and $2.79 billion expected by analysts. The planned investments are expected to hit profit by $270 million.