Flutter Entertainment Secures Full Ownership of FanDuel

Flutter Entertainment’s Full Acquisition of FanDuel

Earlier this month, Flutter Entertainment completed its acquisition of the remaining 5% stake in FanDuel from Boyd Gaming Corporation. This purchase finalizes Flutter’s complete ownership of one of the premier sportsbook operators.

Details of the Acquisition and Financial Impact

The transaction valued FanDuel at an impressive $31 billion, which led FanDuel to arrange a substantial $1.75 billion loan to facilitate the deal. Alongside obtaining full ownership, the agreement extended the partnership between Flutter Entertainment and Boyd Gaming until 2038.

This renewed partnership allows FanDuel to benefit from reduced market access fees in several important states, including Indiana, Iowa, Kansas, Louisiana, and Pennsylvania, where it collaborates with Boyd Gaming. These savings are projected to amount to approximately $65 million annually.

Additionally, FanDuel will continue managing Boyd’s physical sportsbooks outside Nevada until the following year, when Boyd will take over those operations.

Completion of the Transaction and Partnership Extension

The acquisition of the last 5% stake has been officially finalized, reinforcing Flutter Entertainment’s full control of FanDuel. The extended strategic alliance with Boyd Gaming is set to continue through 2038, ensuring long-term collaboration and benefits.

The savings from lower market access fees will become effective starting July 1, 2025, further strengthening FanDuel’s competitive position.

Benefits and Future Prospects for Boyd Gaming

This deal presents a valuable opportunity for Boyd Gaming to enhance its financial standing and focus on debt repayment. Boyd has been demonstrating solid growth, as reflected in its recent second-quarter financial results, which reported revenue of $1 billion and an adjusted EBITDAR of $357.9 million. The positive performance across most sectors sets a strong foundation for Boyd’s future success.