FanDuel is on course for an impressive $31bn valuation after its parent company, Flutter Entertainment, agreed to buy out the remaining stake in the sportsbook operator.
Flutter, an Irish-American gambling giant, has finalised a deal with Boyd Gaming to snap up the last five per cent of FanDuel it does not own for a cool $1.55bn, pushing FanDuel’s worth to a staggering $31bn, as reported by City AM.
This latest acquisition propels Flutter’s market value to a gargantuan $51bn (£37bn), placing it in the league of NatWest’s market cap in the UK, and keeps its secondary berth on London’s Stock Exchange intact. Their brand roster is no less impressive, boasting heavy-hitters like Betfair, SkyBet, and Paddy Power.
The ink should be dry on this transaction by the close of Q3 2025, with both Boyd and Flutter agreeing to join forces on “market-access agreements” stretching into 2038.
Twist in the Flutter deal?
Flutter’s full grasp over FanDuel might be fleeting, as Fox Corporation eyes an option to take a significant 18.6 per cent slice of the pie at a bargain rate.
This clause wormed its way into the terms amidst Flutter’s acquisition of online gaming behemoth The Stars Group.
Fox’s head honcho Lachlan Murdoch hinted he’s keen to pull the trigger on that option—which times out in December 2030—backed by Goldman Sachs’ analysts pegging FanDuel at even more: a cool $35bn.
Flutter’s share value on the New York Stock Exchange enjoyed a modest uptick of just over one per cent on Thursday, closing at $289.58 each. Boyd Gaming Corporation wasn’t far behind, marking a 1.5 per cent rise with shares ending the day at $85.37.
In an announcement, Boyd outlined details of the financial arrangement: “The agreements will also provide Boyd with a fixed fee per state from FanDuel’s mobile sports-betting operations in Iowa, Indiana, Kansas, Louisiana and Pennsylvania, as well as FanDuel’s online casino operations in Pennsylvania, upon the close of this transaction,” they noted. Adding further to their statement, Boyd highlighted continuity in their collaboration with FanDuel, stating, “FanDuel will also continue to operate Boyd’s retail sportsbooks outside of Nevada through mid-2026, after which time Boyd will assume responsibility for these operations.”
