Flutter Entertainment, the global iGaming and sports betting giant, is set to secure 100% ownership of FanDuel after reaching a new agreement with Boyd Gaming Corporation.
Previously holding 95% of FanDuel, Flutter announced it will acquire the remaining 5% stake from Boyd for approximately $1.755 billion. The deal also includes revisions to existing commercial terms, and the transaction is expected to be completed in the coming months, pending regulatory approvals.
But this isn’t a breakup between Flutter and Boyd. In fact, the agreement extends their strategic partnership until 2038. Boyd will continue to provide market access for FanDuel in several key states – Indiana, Iowa, Kansas, Louisiana, and Pennsylvania – but now at significantly reduced market access costs.
According to Flutter, this new arrangement is projected to save the company around $65 million annually, starting July 1, 2025. FanDuel already leads the U.S. online sports betting and iGaming space. Based on Q1 2025 gross gaming revenue, the company holds a 43% market share in sports betting and 27% in iGaming.
Flutter CEO Peter Jackson called the 2018 FanDuel acquisition one of the most important moves 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 entered the U.S. market by purchasing a 57.8% stake in FanDuel just days after the PASPA decision in 2018. Less than three years later, it increased its ownership to 95% by acquiring an additional 37.2% from a group of private equity investors – a move that set the stage for this latest and final step to full ownership.
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- Source: https://sportshandle.com/flutter-to-become-the-only-owner-of-fanduel/