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Opened Apr 28, 2026 by Haley Kilpatrick@haleykilpatric
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Flutter to Purchase 5% FanDuel Stake Back From Boyd Gaming


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

- Flutter Entertainment is buying the staying 5% of FanDuel from Boyd Gaming for around $2 billion, aiming for full ownership of the leading U.S. online sportsbook.

  • The offer indicates a $35 billion assessment for FanDuel, highlighting its market dominance over competitors like DraftKings and highlighting Flutter's tactical focus on U.S. operations.

    The news was initially reported on X by Mark Kleinman, service editor at Sky News.

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

    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 anticipated to close in the third quarter of 2025, pending regulatory approvals. The gambling establishment operator stated it prepares to use the net earnings of the deal to decrease its financial obligation.

    "This deal opens the incredible unrealized worth that our investment in FanDuel has developed for our Company," stated Keith Smith, president and primary executive officer of Boyd, in a news release. "As an outcome, we are in a substantially stronger monetary position to continue performing our strategy of purchasing our homes, pursuing development chances, returning capital to our shareholders, and preserving a strong balance sheet."

    Exclusive: Flutter Entertainment, the group behind Paddy Power and Betfair, is in innovative talks to purchase an additional 5pc stake in FanDuel, the US-based sports company, from Boyd Gaming in an offer expected to be worth close to $2bn. An agreement could be announced this week.

    The value of the 5% stake suggests that FanDuel, the biggest online betting websites in the United States, could be worth around $35 billion. Flutter said the "attractive indicated assessment" was around $31 billion.

    Whatever the appraisal, it's a great bit more than the current, around $22 billion market capitalization of FanDuel's chief rival, DraftKings. That gap could, among other things, speak with the Flutter subsidiary's more powerful position in the U.S. market.

    "The partnership in between Boyd and FanDuel has actually been an impressive success for both companies," Smith stated in the press release. "FanDuel has emerged as the country's clear leader in online sports-betting, while Boyd has had the ability to utilize this partnership to profitably participate in the fast growth of sports wagering across the nation."

    Boyd got its 5% stake in FanDuel in 2018 as part of a partnership to pursue sports wagering and iGaming opportunities in the U.S. Boyd also acts as a "market gain access to" car for FanDuel in specific states, such as Indiana, where online sports wagering operators require ties to a brick-and-mortar center.

    As part of Thursday's statement, Boyd stated it and FanDuel would scrap their existing market-access deals and participate in new ones that run through 20238.

    "The contracts will also offer Boyd with a fixed fee per state from FanDuel's mobile sports-betting operations in Iowa, Indiana, Kansas, Louisiana and Pennsylvania, as well as FanDuel's online casino operations in Pennsylvania, upon the close of this transaction," the press release added. "FanDuel will likewise continue to run Boyd's retail sportsbooks beyond Nevada through mid-2026, after which time Boyd will presume responsibility for these operations."

    Boyd stated the new market-access contracts would imply that its online gaming segment will generate $50 million to $55 million in operating income and changed EBITDAR this year, and then roughly $30 million for 2026.

    Fox in the FanDuel home

    Flutter, on the other hand, trumpeted that Thursday's deal (spent for with extra financial obligation) will provide it 100% ownership of FanDuel, "the premier asset in the US sports betting and iGaming market."

    Furthermore, Flutter stated the new market-access offers would contribute yearly operating expense savings of around $65 million.

    "The savings are expected to be generated from July 1, 2025, and further underpin Flutter's confidence in the long-lasting success profile of its US company, showing the capability to assist reduce both current and future tax boosts," the business added.

    Those "current and future tax increases" include Illinois adding a per-bet tax for sportsbook operators and New Jersey upping its levy on online gambling earnings.

    Still, with FanDuel's strong existence in the country, Flutter continues to lean into its U.S. operations. The business's "global operational headquarters" remain in New York and its shares are now noted on the New York Stock Exchange.

    "Our acquisition of FanDuel in 2018 is among the most transformational events in our Group's history, with its natural competitive benefits combined with access to Flutter Edge capabilities driving outstanding growth to end up being the well-established and clear leader in US online sports wagering and iGaming," Flutter CEO Peter Jackson stated in a press release. "I am actually delighted to drive future worth for our investors by increasing our ownership of FanDuel to 100%. Boyd have been wonderful partners for FanDuel, and we are delighted to be extending our crucial tactical collaboration through to 2038."

    Nevertheless, Flutter has another FanDuel ownership issue hanging over its head.

    TV business Fox Corp. continues to hold an alternative to acquire 18.6% of FanDuel at an expense the 2 companies contested. Following arbitration, the cost of the 18.6% stake is now approximately $4.3 billion, and the choice to purchase expires in Dec.
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Reference: haleykilpatric/the-bet9ja-promo-code-for-2026-is-yohaig#1