Flutter Entertainment, the world’s top online sports betting and iGaming company, has signed a new deal with Boyd Gaming Corporation. The agreement allows Flutter to secure 100% ownership of FanDuel by acquiring Boyd’s remaining 5% stake in the company. FanDuel currently holds the top position among iGaming and sports betting platforms in the United States.
Flutter and Boyd agreed on a deal worth about $1.76 billion. They plan to complete the transaction in the third quarter of 2025.
From 2018 to 2025: The Path to Full Ownership
Flutter Entertainment plans to gain full ownership of FanDuel by buying Boyd Gaming’s remaining 5% stake for $1.76 billion. This deal values FanDuel at $31 billion and extends Flutter and Boyd’s strategic partnership until 2038.
FanDuel currently leads the U.S. market with 43% in sports betting and 27% in iGaming across regulated states. The deal needs regulatory approval and is expected to close in the third quarter of 2025.
Flutter will finance the acquisition through new debt, strengthening its position in the growing U.S. online gambling market.
Flutter Expects Annual Savings of $65 Million
The new deal strengthens and extends the partnership between Flutter and Boyd through 2038. It is also expected to lower Flutter’s yearly U.S. market access costs by $65 million starting in July 2025. These savings apply in the states where Boyd supports FanDuel’s operations.
Flutter expects to achieve significant annual savings in FanDuel’s online sports betting operations in Pennsylvania, Iowa, Indiana, Kansas, and Louisiana, along with its online casino operations in Pennsylvania. Under the terms of the deal, Boyd will get a fixed fee for each of these states.
FanDuel currently manages Boyd’s retail sportsbooks outside Nevada. Under the new deal, Flutter will return control of these locations to Boyd in Q2 2026. This change allows Flutter to focus fully on growing FanDuel’s digital operations in the U.S. market.
For Flutter, the 100% ownership of FunDeal is a strategic move to maximize profitability and streamline operations in the United States. At the same time, for Boyd, the agreement offers a substantial cash influx and long-term fixed income from the partnership.
Leave a Reply