Flutter buys Boyd's 5% FanDuel stake for ~$1.755bn, now owns 100%

Flutter Entertainment plc

Flutter to pay Boyd approximately $1.755bn for its 5% FanDuel stake, taking ownership to 100% at an implied valuation of ~$31bn.
Strategic partnership extended to 2038 with reduced market access costs; annual savings of ~$65m expected from July 1, 2025.
Transaction subject to regulatory approvals; expected to close in Q3 2025. Financed via $1.75bn bridge credit agreement.
Bridge facility priced at Term SOFR + 1.25%, matures 12 months from first draw, with two 6-month extension options.
FanDuel holds 43% US sports betting market share and 27% iGaming share, driven by Flutter Edge capabilities.

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