Entertainment <\/p>\n
Flutter Entertainment<\/strong> has struck a deal to buy the last 5% of FanDuel<\/strong> from Boyd Gaming Corporation<\/strong>. This $1.755 billion purchase will give Flutter total ownership<\/strong> of the top US sportsbook and iGaming platform. The move values FanDuel<\/strong> at about $31 billion<\/strong> and will change the US sports betting scene.<\/p>\n The deal should wrap up in the third quarter of 2025<\/strong> as long as regulators give the green light. Flutter<\/strong> plans to use debt to pay for it. They have set up a bridge credit facility of $1.75 billion<\/strong> to cover the cost of buying FanDuel<\/strong> and related expenses.<\/p>\n The deal also extends the long-running partnership between Flutter<\/strong> and Boyd Gaming<\/strong>, which will now last until 2038<\/strong>. Under the new terms, FanDuel<\/a> will enjoy much lower market access fees in five crucial states, Indiana, Iowa, Kansas, Louisiana, <\/strong>and Pennsylvania<\/strong>, where Boyd helps it enter. These cuts are expected to reduce Flutter\u2019s yearly expenses by around $65 million beginning in July 2025.<\/p>\n Along with the purchase, Boyd<\/strong> and FanDuel<\/strong> have restructured their business deals<\/strong>. FanDuel<\/strong> will keep running Boyd\u2019s physical sportsbooks outside Nevada through mid-2026 when Boyd will step in to manage these operations. Boyd<\/strong> will also get a set fee for each state where FanDuel<\/strong> offers online sports betting and casino games in the agreed markets.<\/p>\n Boyd Gaming<\/strong>\u2018s top brass pointed out that this deal unlocks a lot of value<\/strong> from its initial FanDuel<\/strong> investment boosting the company\u2019s financial health. The money from the sale will go towards paying off debt, letting Boyd keep its focus on improving its properties giving returns to shareholders, and exploring potential growth opportunities.<\/p>\n Keith Smith, Boyd Gaming\u2019s CEO<\/strong>, said the partnership with FanDuel<\/strong> had a big impact on both companies. He pointed out that Boyd got to take part in the growing sports betting industry, while FanDuel<\/strong> became the clear leader in online sports betting in the US.<\/p>\n Flutter CEO Peter Jackson<\/strong> called the deal a big step forward for the company. He said FanDuel<\/strong>\u2018s quick growth since Flutter<\/strong> first put money<\/a> in it in 2018 came from its strengths and its use of Flutter\u2019s<\/strong> global resources. He believed that owning all of FanDuel would make it even more valuable for shareholders and help FanDuel<\/strong> stay on top of the market.<\/p>\n FanDuel<\/strong> still leads the US market<\/strong> holding a 43%chunk of sports betting<\/strong> and 27% of iGaming<\/strong>. This deal\u2019s wrap-up looks to strengthen Flutter\u2019s grip on the booming online gambling scene even more.<\/p>\n<\/p><\/div>\nFlutter Secures $1.75B Loan for FanDuel Deal, Eyes Regulatory Approval by Q3 2025<\/h2>\n
FanDuel Sale Strengthens Boyd\u2019s Balance Sheet While Flutter Doubles Down on US Market<\/h2>\n