Flutter Completes 100% Acquisition of FanDuel from Boyd
Deal News | Jul 10, 2025 | Globenewswire
Flutter Entertainment, the world's leading online sports betting and iGaming operator, announced its acquisition of Boyd Gaming Corporation's 5% stake in FanDuel Group, bringing its total ownership to 100%. This move, at an implied valuation of approximately $31 billion for FanDuel, secures Flutter's market dominance in US sports betting and iGaming. The agreement extends Flutter's strategic partnership with Boyd to 2038, reducing market access costs and achieving an estimated annual saving of $65 million starting July 1, 2025. The acquisition will be funded through additional debt financing, increasing leverage short-term but supported by expected profitable growth across the Group. Additionally, Flutter has secured a $1.75 billion bridge credit agreement to fund the acquisition and associated expenses. The FanDuel acquisition continues to position Flutter as a leader in the US market, bolstered by its 'Flutter Edge' capabilities, and aligns with their strategic goals for sustainable growth and shareholder value enhancement.
Sectors
- Online Gambling and Betting
- Private Equity
Geography
- United States – The transaction primarily impacts the U.S. market, securing Flutter's position as a leader in the American online sports betting and iGaming industry.
Industry
- Online Gambling and Betting – The article focuses on Flutter Entertainment's acquisition within the sports betting and iGaming market, reasserting its leadership in online gambling.
- Private Equity – The transaction details involving investment stakes and acquisitions relate to this industry's practices of strategic financial structuring.
Financials
- $1.755 billion – The total consideration paid by Flutter for Boyd's 5% stake in FanDuel and revision of commercial terms.
- $31 billion – The implied valuation of FanDuel in the buyout transaction.
- $65 million – Expected annual savings on market access costs beginning in July 2025.
- $1.75 billion – Bridge Credit Agreement amount secured to finance the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Flutter Entertainment | Bidding Company | Company | Flutter Entertainment is acquiring the remaining stake in FanDuel to secure full ownership. |
| Boyd Gaming Corporation | Selling Company | Company | Boyd Gaming is selling its 5% stake in FanDuel as part of the strategic Agreement with Flutter. |
| FanDuel Group | Target Company | Company | FanDuel is the primary U.S. asset in sports betting and iGaming being fully acquired by Flutter. |
| J.P. Morgan SE | Financial Advisor | Company | Acts as an administrative agent for the debt financing in the deal. |