Flutter Entertainment is now the sole owner of leading US sportsbook FanDuel after completing a $1.758 billion buyout of Boyd Gaming’s 5% stake.
The online sports betting and iGaming operator, had announced its intention to secure Boyd’s 5% share earlier this month and has acted swiftly to finalise the deal.
As well as securing 100% ownership of FanDuel, Flutter’s strategic partnership with Boyd Gaming has been extended to 2038 as part of the overall agreement.
The total fee paid was a combination of $1.58 billion for Boyd’s stake and a further $200 million for revising the terms of the collaboration between Flutter and Boyd.
It has been a stellar week for Boyd Gaming after the company announced its Q2 2025 revenue had reached $1 billion with a 33.2% rise from its online casino and gaming enterprise.
The Rise Of Flutter Entertainment
Flutter Entertainment plc is a multinational sports betting, online casino and gambling company, with registered headquarters in Dublin and an operational base in New York.
The firm is listed on the New York Stock Exchange with a secondary listing on the London Stock Exchange.
Among its stable of high-profile brands is the likes of Paddy Power, Betfair, Sky Betting & Gaming and PokerStars.
Flutter became the majority owner of FanDuel after Paddy Power Betfair paid $158 million for 57.8% of the organization in May 2018.
CEO Peter Jackson hailed the company’s move for overall ownership when it announced its intention to buy at the start of July.
“Our acquisition of FanDuel in 2018 is one of the most transformational events in our Group’s history, with its natural competitive advantages combined with access to Flutter Edge capabilities driving impressive growth to become the well-established and clear leader in US online sports betting and iGaming,” he said.
“I am really pleased to drive future value for our shareholders by increasing our ownership of FanDuel to 100%.
“Boyd have been fantastic partners for FanDuel, and we are delighted to be extending our important strategic partnership through to 2038.”
FanDuel Cements Place As US Market Leader
FanDuel was the leading sportsbook in the US in the first quarter of this year, posting a Q1 total revenue generated of $1.67 billion
That was a 19% year-on-year increase from Q1 in 2024 and constituted 48% of the net revenue produced by licensed sportsbooks.
The sportsbook is the most active of all US online sports betting apps, available in 26 states.
Fox Sports Retains FanDuel Option
Although now holding 100% ownership, Flutter did reveal that Fox Sports still retains an option to acquire an 18.6% equity interest in FanDuel, which can be exercised at any time on or before December 3, 2030.
To exercise that option, Fox would have to pay the market value of FanDuel as at December 3, 2020, plus factor in an annual increase of 5%.
Industry estimates suggest that the required exercise fee presently stand at around $4.5 billion.
Who Are Boyd Gaming?
Boyd Gaming was founded in 1975 by a father and son team, Sam and Bill Boyd, based in a single property on downtown Las Vegas.
Today, the company holds 28 gaming entertainment properties across 10 states, as well operating the Sky River Casino for the Wilton Rancheria tribe in Elk Grove, California.
It also has its own online casino gaming business under the banner of Boyd Interactive, which is headquartered in Toronto.
Jim Munro is a betting industry and gambling expert who has been a national newspaper journalist for over 30 years, predominantly at The Sunday Times and The Sun, where he wrote a weekly soccer betting column. Jim also worked on the launch of Virgin Bet with Gamesys and was subsequently head of editorial at LiveScore, the sports media and betting group.
