Flutter Entertainment Completes Boyd Agreement, Cements 100% Ownership in FanDuel

Earlier this month, Flutter Entertainment announced the purchase of the last 5% of FanDuel from Boyd Gaming Corporation. The deal has now officially closed, cementing Flutter’s ownership in the leading sportsbook.

Flutter Set Out to Acquire All of FanDuel

The transaction valued FanDuel at $31 billion, forcing FanDuel to secure a $1.75 billion loan for the deal.

In addition to securing Flutter’s full ownership of FanDuel, the agreement also extended the company’s partnership with Boyd Gaming to 2038. The new terms will allow the FanDuel brand to enjoy lower market access fees in several key markets where it operates in partnership with Boyd. These include Indiana, Iowa, Kansas, Louisiana, and Pennsylvania.

According to an earlier announcement, Flutter is expected to save some $65 million a year thanks to the new deal.

The deal furthermore ensured that FanDuel will continue to run Boyd’s brick-and-mortar sportsbooks outside Nevada until next year, when the latter company will assume control of these operations.

The Deal Closes, Solidifying Flutter’s Ownership of FanDuel

As mentioned, the transaction of the remaining 5% in FanDuel has now gone through. The latest announcement also confirmed the extension of Flutter Entertainment’s long-term strategic partnership with Boyd Gaming Corporation to 2038.

Flutter added that the market access savings secured as part of the transaction will be effective July 1, 2025.

An Opportunity for Boyd

The deal is a great opportunity for Boyd to strengthen its balance sheet and allow it to repay its debts. The company’s business is already enjoying a strong period, as highlighted in its latest financial report.

For context, Boyd’s Q2 financials outlined revenues of $1 billion, as well as total adjusted EBITDAR of $357.9 million. Most segments performed strongly, setting Boyd up for future success.