Flutter to Purchase 5% FanDuel Stake Back From Boyd Gaming

Flutter Entertainment PLC is redeeming the last 5% of FanDuel it does not currently own from the holder of that sliver, brick-and-mortar casino operator Boyd Gaming Corp.


- Flutter Entertainment is purchasing the staying 5% of FanDuel from Boyd Gaming for around $2 billion, going for complete ownership of the leading U.S. online sportsbook.
- The deal implies a $35 billion assessment for FanDuel, underscoring its market supremacy over competitors like DraftKings and highlighting Flutter's tactical focus on U.S. operations.


The news was first reported on X by Mark Kleinman, organization editor at Sky News.


Las Vegas-based Boyd and Flutter then announced the news formally, with Boyd saying it got in into a "definitive agreement" to offer its 5% stake in FanDuel to Flutter for $1.755 billion in money.


The deal would give Flutter complete ownership of FanDuel, at least for the time being (more on that listed below).


Boyd included that the deal is expected to close in the 3rd quarter of 2025, pending regulatory approvals. The gambling establishment operator stated it plans to utilize the net profits of the transaction to minimize its debt.


"This transaction opens the tremendous unrealized value that our investment in FanDuel has produced for our Company," said Keith Smith, president and president of Boyd, in a news release. "As an outcome, we remain in a significantly more powerful monetary position to continue executing our method of investing in our homes, pursuing growth opportunities, returning capital to our investors, and keeping a strong balance sheet."


Exclusive: Flutter Entertainment, the group behind Paddy Power and Betfair, remains in innovative speak to buy an additional 5pc stake in FanDuel, the US-based sports betting business, from Boyd Gaming in an offer anticipated to be worth near to $2bn. An agreement could be announced today.