Flutter Entertainment, one of the world’s biggest betting and gaming brands, has agreed a deal to secure 100% ownership of FanDuel.
Boyd Gaming Corporation held a 5% stake, valued at $1.755 billion. The deal for Flutter to snap up this share makes the company the sole owner of FanDuel, the leading betting company in the United States, with an estimated value of $31 billion.
So that's official, then. Boyd Gaming says it has struck a deal to sell its 5% stake in FanDuel to Flutter Entertainment for $1.755B. The two companies will also blow up their existing market-access agreements in the U.S. and enter into new ones through 2038. pic.twitter.com/zNOIEeTsVt
— Geoff Zochodne (@GeoffZochodne) July 10, 2025
Keith Smith, Boyd’s President and CEO, put it this way: “This transaction unlocks the tremendous unrealized value that our investment in FanDuel has created for our Company.
!As a result, we are in a significantly stronger financial position to continue executing our strategy of investing in our properties, pursuing growth opportunities, returning capital to our shareholders, and maintaining a strong balance sheet.”
Flutter agrees to FanDuel ownership deal
Flutter has had a busy 2025 so far, with Paul Edgecliffe-Johnson exiting his role as Group Chief Financial Officer (CFO) and Executive Director. Flutter had reiterated in the boardroom shuffle that there was a “need for extensive executive management time to be spent in the United States.” Rob Coldrake, the previous CFO of Flutter, stepped into the vacant role.
This investment by Flutter is a sign that the company is attempting to devote more resources and time to growing the brand in North America.
FanDuel currently dominates the sports betting market, as its 43% share of the American gambling territory indicates, and the company’s creep into the iGaming scene stands at a respectable 27%.
“Our acquisition of FanDuel in 2018 is one of the most transformational events in our Group’s history, ” the CEO of FanDuel, Peter Jackson, looked back on the history of Flutter and betting brand, “Driving impressive growth to become the well-established and clear leader in US online sports betting and iGaming.”
The deal to make Flutter the sole controlling owner is subject to the regulatory checks and balances that come with an agreement of this size. The company is projecting that this will be completed by Q3 2025, and the release by Flutter indicates that a new bridge credit agreement was also created to fund the deal (July 10, 2025).
“I am pleased to drive future value for our shareholders by increasing our ownership of FanDuel to 100%. Boyd have been fantastic partners for FanDuel,” concluded Jackson.
Featured image: Flutter official.
