Boyd Gaming has confirmed the completion of the beforehand introduced settlement to promote its 5% fairness share in FanDuel to Flutter.
The transaction, price $1.75 billion, means Flutter now has full possession of the outstanding US sports activities betting model.
Regardless of this new standing, Flutter might face a dilution of its shareholding and whole management, as an current rights choice held by Fox Company permits it to amass 18.6% of FanDuel’s fairness by December 3, 2030.
The value for this transaction to go forward is at present estimated at $4.5 billion.
Past the headline sale, Boyd Gaming is predicted to profit together with Flutter as a part of an ongoing strategic partnership by means of to 2038.
The Nevada-based developer, which reported second-quarter revenues of $1 billion, indicated in its press release that the money proceeds from the $1.75b deal could be used towards settling current debt liabilities, whereas it’s going to additionally search recent progress alternatives and return worth to shareholders.
Flutter is predicted to realize from diminished market entry prices in states the place Boyd Gaming is the gatekeeper for FanDuel’s presence, with the financial savings anticipated to achieve the $65 million mark yearly.
Iowa, Indiana, Kansas, Louisiana, and Pennsylvania have been pinpointed as key markets to safe this operational effectivity.
Roughly $1.75B later, Flutter Leisure is formally the proud proprietor of 100% of FanDuel*
*topic to Fox Corp.’s ongoing choice to purchase 18.6% of FanDuel pic.twitter.com/bkpIOqA5zH
— Geoff Zochodne (@GeoffZochodne) July 31, 2025
Future relationship with Fox Company
The fairness choice held by Fox relies on a full money fee and topic to circumstances, together with licensing necessities. In the event that they do proceed with it, there could be a major affect on Flutter and its possession construction, however there are protections embedded into the deal from the excessive value value and aforementioned licensing phrases.
Additional worth and scope for progress might be unlocked from potential future companion agreements between Flutter and Fox within the evolving media and sportsbook sectors.
Additionally, as a part of the headline deal, FanDuel will proceed to function Boyd Gaming’s retail sportsbooks exterior of Nevada by means of to June subsequent yr, with Boyd taking full accountability after that time.
Till then, Boyd Gaming will obtain set per-state charges from FanDuel’s on-line operations.
Picture credit score: FanDuel
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