As New York City prepared for Game 3 of the 2026 NBA Finals on Monday, FanDuel pulled out all the stops with a massive promotional event in Times Square.
Along with a musical performance, fans donning Knicks gear received free subway rides courtesy of the sportsbook, among other giveaways and prizes. It also included appearances from Knicks legends and other local celebrities. It likely cost a pretty penny to put such an event together.
That’s a stark contrast from last Friday, when the company laid off a sizable number of employees.
As first reported by Front Office Sports’ Ben Horney, FanDuel underwent its latest round of layoffs on Friday. Per FOS, the move “may impact a few hundred people of roughly 5,000 total employees.”
“While decisions like this are never easy, these changes will strengthen our ability to execute on our long-term strategy,” a FanDuel rep told FOS.
In internal FanDuel emails obtained by Awful Announcing, executives stressed that the layoffs were necessary for the company to succeed but do not reflect any current financial concerns.
“Within Sportsbook, we said goodbye to a number of talented teammates across the teams,” wrote Karol Corcoran, Managing Director, Sportsbook, in an email to staff. “While today is difficult, I remain very confident in the future of our Sportsbook business, the strength of our strategy, and the opportunities ahead of us.”
“I want everyone to know that I am excited and energized about what we are going to accomplish together,” wrote Ari Avishay, FanDuel’s SVP of Marketing, in an email to that department. “I believe in this company. I believe in all you.”
According to various LinkedIn and social media updates, employees in business development, operations, customer service, social media, and engineering were among those impacted.
“From my POV, the company’s spending all this money to sign certain influencers and TV deals are coming back to bite them now,” one laid-off employee who wished to remain anonymous told Awful Announcing. “They’re losing good employees who can truly help their future. The sports betting bubble will pop if these companies value just name value over actual sticking power with fans.”
This round of FanDuel layoffs follows previous ones across various departments and verticals. FanDuel TV network was phased out late last year, eliminating over 100 jobs. The company has also let several notable contracts run out, including Golic & Golic. FanDuel also ousted CEO Amy Howe from that role in May after five years at the company, shortly after the parent company, Flutter, fell short of Wall Street expectations in February.
In February, FanDuel Sports Network, a separate entity owned by Main Street Sports Group, laid off employeesat regional offices across the country as its RSN affiliates wound down.
The layoffs come amid a rising trend across the gambling industry, as experts warn that growth is slowing and competition from prediction markets is changing the landscape.