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Flutter Entertainment PLC said Friday that it has agreed to acquire a 5% stake in FanDuel Group from Boyd for approximately $1.76 billion to take outright ownership of the leading sports betting and iGaming business in the U.S. https://t.co/UfbcS0wPDS
Boyd is selling its 5% stake in FanDuel to Flutter for $1.8B, giving Flutter full ownership. A new market-access deal runs through 2038, with Boyd earning fixed fees in five states. Fox still holds rights to buy 18.6%. @ByMatthewWaters: https://t.co/kfgGqPEgik
As Boyd sells FanDuel stake, entry of online betting giants in Nevada remains far off The company will collect $1.76 billion for its sale of 5 percent ownership. The state’s in-person sign-up rules remain a roadblock for mobile wagering. @TheNVIndy https://t.co/51OmrHKNg7
Flutter Entertainment PLC has agreed to acquire Boyd Gaming Corporation's 5% stake in FanDuel Group for approximately $1.755 billion to $1.76 billion in cash. The transaction, expected to close in the third quarter of 2025, will give Flutter full ownership of FanDuel, a leading U.S. sports betting and iGaming platform valued at around $31 billion. As part of the deal, Boyd Gaming will take over operations of the sportsbooks at its properties outside Nevada in 2026 and will continue to receive fixed fees from FanDuel’s mobile betting operations in five states through 2038 under an extended market-access agreement. The proceeds from the sale will be used by Boyd Gaming to reduce debt. Despite the deal, regulatory hurdles in Nevada, such as in-person sign-up requirements, continue to limit the expansion of mobile wagering in the state. Fox Corporation still retains rights to purchase an 18.6% stake in FanDuel.
