Boyd Gaming has confirmed the completion of the beforehand introduced settlement to promote its 5% fairness share in FanDuel to Flutter.
The transaction, price $1.75 billion, means Flutter now has full possession of the outstanding US sports activities betting model.
Regardless of this new standing, Flutter might face a dilution of its shareholding and complete management, as an current rights possibility held by Fox Company permits it to amass 18.6% of FanDuel’s fairness by December 3, 2030.
The value for this transaction to go forward is at the moment estimated at $4.5 billion.
Past the headline sale, Boyd Gaming is predicted to profit together with Flutter as a part of an ongoing strategic partnership by way of to 2038.
The Nevada-based developer, which reported second-quarter revenues of $1 billion, indicated in its press launch that the money proceeds from the $1.75b deal could be used towards settling current debt liabilities, whereas it can additionally search contemporary progress alternatives and return worth to shareholders.
Flutter is predicted to realize from decreased market entry prices in states the place Boyd Gaming is the gatekeeper for FanDuel’s presence, with the financial savings anticipated to achieve the $65 million mark yearly.
Iowa, Indiana, Kansas, Louisiana, and Pennsylvania have been pinpointed as key markets to safe this operational effectivity.
Roughly $1.75B later, Flutter Leisure is formally the proud proprietor of 100% of FanDuel*
*topic to Fox Corp.’s ongoing possibility to purchase 18.6% of FanDuel pic.twitter.com/bkpIOqA5zH
— Geoff Zochodne (@GeoffZochodne) July 31, 2025
Future relationship with Fox Company
The fairness possibility held by Fox relies on a full money cost and topic to situations, together with licensing necessities. In the event that they do proceed with it, there could be a big impression on Flutter and its possession construction, however there are protections embedded into the deal from the excessive value worth and aforementioned licensing phrases.
Additional worth and scope for progress may very well be unlocked from potential future associate agreements between Flutter and Fox within the evolving media and sportsbook sectors.
Additionally, as a part of the headline deal, FanDuel will proceed to function Boyd Gaming’s retail sportsbooks outdoors of Nevada by way of to June subsequent yr, with Boyd taking full accountability after that time.
Till then, Boyd Gaming will obtain set per-state charges from FanDuel’s on-line operations.
Picture credit score: FanDuel
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