Flutter to buy 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 gambling establishment operator Boyd Gaming Corp.
- Flutter Entertainment is purchasing the remaining 5% of FanDuel from Boyd Gaming for around $2 billion, intending for complete ownership of the leading U.S. online sportsbook.
- The offer indicates a $35 billion assessment for FanDuel, underscoring its market dominance over rivals like DraftKings and highlighting Flutter's tactical focus on U.S. operations.
The news was first reported on X by Mark Kleinman, service editor at Sky News.
Las Vegas-based Boyd and Flutter then announced the news officially, with Boyd saying it entered into a "conclusive contract" to sell its 5% stake in FanDuel to Flutter for $1.755 billion in cash.
The transaction would provide Flutter total ownership of FanDuel, at least for the time being (more on that listed below).
Boyd added that the offer is expected to close in the third quarter of 2025, pending regulatory approvals. The gambling establishment operator said it plans to utilize the net earnings of the transaction to reduce its debt.
"This deal opens the remarkable latent worth that our financial investment in FanDuel has actually created for our Company," said Keith Smith, president and president of Boyd, in a press release. "As an outcome, we remain in a substantially stronger financial position to continue executing our technique of purchasing our properties, pursuing growth opportunities, returning capital to our shareholders, and keeping a strong balance sheet."
Exclusive: Flutter Entertainment, the group behind Paddy Power and Betfair, remains in advanced talk with purchase a further 5pc stake in FanDuel, the US-based sports wagering company, from Boyd Gaming in an offer expected to be worth near to $2bn.
Flutter Entertainment PLC is redeeming the last 5% of FanDuel it does not currently own from the holder of that sliver, brick-and-mortar gambling establishment operator Boyd Gaming Corp.
- Flutter Entertainment is purchasing the remaining 5% of FanDuel from Boyd Gaming for around $2 billion, intending for complete ownership of the leading U.S. online sportsbook.
- The offer indicates a $35 billion assessment for FanDuel, underscoring its market dominance over rivals like DraftKings and highlighting Flutter's tactical focus on U.S. operations.
The news was first reported on X by Mark Kleinman, service editor at Sky News.
Las Vegas-based Boyd and Flutter then announced the news officially, with Boyd saying it entered into a "conclusive contract" to sell its 5% stake in FanDuel to Flutter for $1.755 billion in cash.
The transaction would provide Flutter total ownership of FanDuel, at least for the time being (more on that listed below).
Boyd added that the offer is expected to close in the third quarter of 2025, pending regulatory approvals. The gambling establishment operator said it plans to utilize the net earnings of the transaction to reduce its debt.
"This deal opens the remarkable latent worth that our financial investment in FanDuel has actually created for our Company," said Keith Smith, president and president of Boyd, in a press release. "As an outcome, we remain in a substantially stronger financial position to continue executing our technique of purchasing our properties, pursuing growth opportunities, returning capital to our shareholders, and keeping a strong balance sheet."
Exclusive: Flutter Entertainment, the group behind Paddy Power and Betfair, remains in advanced talk with purchase a further 5pc stake in FanDuel, the US-based sports wagering company, from Boyd Gaming in an offer expected to be worth near to $2bn.