Flutter Entertainment, a global leader in iGaming and sports betting, is poised to gain complete ownership of FanDuel following a new deal with Boyd Gaming Corporation.
Having previously held 95% of FanDuel, Flutter announced its plan to purchase the remaining 5% from Boyd for about $1.755 billion. The agreement also involves changes to existing commercial terms, with the transaction anticipated to finalize in the upcoming months, subject to regulatory approvals.
This development does not signify a split between Flutter and Boyd. The agreement actually prolongs their strategic partnership until 2038. Boyd will continue offering market access for FanDuel in multiple key states – Indiana, Iowa, Kansas, Louisiana, and Pennsylvania – but now with notably reduced market access expenses.
According to Flutter, this new setup is expected to save the company approximately $65 million per year, starting July 1, 2025. FanDuel is already a frontrunner in the U.S. online sports betting and iGaming sector. Based on Q1 2025 gross gaming revenue, the company commands a 43% market share in sports betting and 27% in iGaming.
Flutter CEO Peter Jackson described the 2018 FanDuel acquisition as a pivotal event in the company’s history:
Our acquisition of FanDuel in 2018 is one of the most transformational events in our Group’s history… I am really pleased to drive future value for our shareholders by increasing our ownership of FanDuel to 100%. Boyd have been fantastic partners for FanDuel, and we are delighted to be extending our important strategic partnership through to 2038 – Jackson said.
Flutter initially ventured into the U.S. market by acquiring a 57.8% stake in FanDuel shortly after the PASPA decision in 2018. Less than three years later, it boosted its ownership to 95% by purchasing an additional 37.2% from a group of private equity investors – a move paving the way for this final step to full ownership.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com