Flutter has announced its purchase of Boyd’s 5% stake in FanDuel for $1.755 billion, securing 100% ownership of FanDuel. This move also extends Flutter’s strategic partnership with Boyd at reduced costs. The agreement, set to close in Q3 2025, will be financed by additional debt. Flutter’s CEO, Peter Jackson, highlighted the acquisition as transformational, noting the significant growth and leadership FanDuel has achieved in U.S. sports betting and iGaming. The deal values FanDuel at $31 billion and extends the partnership with Boyd to 2038, with Boyd receiving a fixed fee per state from FanDuel’s operations. FanDuel will continue managing Boyd’s retail sportsbooks outside Nevada until mid-2026.
Boyd’s CEO, Kevin Smith, praised the partnership, emphasizing the financial benefits and renewed focus on investment and growth. Boyd expects its online segment to generate $50 million to $55 million in operating income for 2025 and around $30 million in 2026. The deal requires regulatory approval before completion.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com