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Flutter acquires 100% of FanDuel in $1.75B deal with Boyd
A leading U.S. sportsbook, Flutter Entertainment, has officially become the sole owner of FanDuel after buying out the final 5% stake from Boyd Gaming for about $1.75 billion.
As part of the deal, the partnership between Flutter and Boyd has been extended until 2038. Boyd will continue to provide FanDuel with market access in several states, but at lower costs. This will save Flutter approximately $65 million per year starting in July 2025.
Holding 43% market share and 27% share in iGaming, this deal will allow Flutter to manage rising tax costs more efficiently. To finance the buyout, Flutter secured a $1.75 billion short-term loan from a group of banks. The company expects to pay off that debt via its U.S. operations.
Peter Jackson, CEO, commented:
“Our acquisition of FanDuel in 2018 is one of the most transformational events in our Group’s history, with its natural competitive advantages combined with access to Flutter Edge capabilities driving impressive growth to become the well-established and clear leader in US online sports betting and iGaming. 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.”
The deal is expected to close later this year, pending regulatory approval.
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