Boyd Gaming ends the sale of Fanduel Holding to Flutter -

Boyd Gaming confirmed the completion of the agreement previously announced to sell its share of 5% equity in Fanduel in Flutter.

The transaction, worth 1.75 billion dollars, means that Flutter is now the owner of the American sports betting brand.

Despite this new status, Flutter could face a dilution of its participation and its total control, because an existing rights option held by Fox Corporation allows it to acquire 18.6% of Fanduel’s equity by December 3, 2030.

The price of this transaction to move forward is currently estimated at $ 4.5 billion.

Beyond the sale, Boyd Gaming should benefit with Flutter as part of an ongoing strategic partnership until 2038.

The developer based in Nevada, who said that revenues from the second quarter of $ 1 billion, said in its press release that the Treasury product of the $ 1.75 billion agreement would be used to settle existing liabilities, while also seeking new growth opportunities and a return value to shareholders.

Flutter is expected to reduce market access costs in the states where Boyd Gaming is the guardian of the presence of Fanduel, the savings that should reach the $ 65 million mark a year.

Iowa, Indiana, Kansas, Louisiana and Pennsylvania have been identified as key markets to guarantee this operational efficiency.

About 1.75 billion dollars later, Flutter Entertainment is officially the pride of 100% Fanduel *

* Subject to the continuous option of Fox Corp. To buy 18.6% Fanduel pic.twitter.com/bkpioqa5zh

– Geoff Zochodne (@Geoffzochodne) July 31, 2025

Future relationship with Fox Corporation

The equity option held by FOX is based on full cash payment and subject to conditions, including license requirements. If they continue with this, there would be a significant impact on the floating and its structure of property, but there are integrated protections in the agreement from the high price and the aforementioned license conditions.

The additional value and the scope of growth could be unlocked from future potential partners agreements between Flutter and Fox in the media and sportsbook evolution sectors.

In addition, as part of the title agreement, Fanduel will continue to exploit the retail books for Boyd Gaming outside the Nevada until June of next year, Boyd having taken responsibility after this point.

Until then, Boyd Gaming will receive costs set by state of the fandual online operations.

Image credit: Fanduel

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