Flutter Entertainment PLC (LSE:FLTR) has struck a deal to buy Boyd Gaming’s remaining 5% stake in FanDuel for about $1.76 billion, giving it complete ownership of the US sports betting giant. The agreement values FanDuel at around $31 billion.
The move comes as Flutter looks to strengthen its position in the fast-growing US online gambling market.
FanDuel has established itself as the clear number one, holding an estimated 43% share in sports betting and 27% in iGaming. By securing 100% ownership, Flutter will have greater flexibility to drive the business and integrate it more closely with the group’s other brands.
As part of the deal, Flutter and Boyd are extending their long-running partnership through to 2038 and have agreed to lower market access costs. The company expects these changes to save approximately $65 million per year, starting in July.
Flutter will finance the purchase with a $1.75 billion bridge loan. The transaction is expected to close in the third quarter of 2025, pending regulatory approvals.
Flutter operates a portfolio of global brands including FanDuel, PokerStars, Paddy Power and Betfair.