Flutter to Buy Remaining FanDuel Stake for $1.76B

Flutter Entertainment has agreed to acquire Boyd Gaming's remaining 5% stake in FanDuel Group for $1.755 billion, granting Flutter full ownership of the leading U.S. sports betting and iGaming platform, valued at about $31 billion. The transaction is expected to close in the third quarter of 2025, subject to regulatory approval, and will be financed through additional debt. As part of the deal, Flutter and Boyd have extended their strategic partnership through 2038, with updated market access agreements that will reduce Flutter's annual costs by approximately $65 million from July 2025. Boyd plans to use the proceeds to reduce debt and strengthen its balance sheet. FanDuel currently holds a 43% share of the U.S. sports betting market and a 27% share in iGaming, underscoring its industry dominance. The deal is considered transformative for Flutter's U.S. operations and future growth.