---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-024042"
form_type: "8-K"
ticker: "BYD"
cik: "0000906553"
company_name: "BOYD GAMING CORP"
filed_at: "2025-07-31T23:59:59+00:00"
generated_at: "2026-05-17T22:38:37.929874+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Boyd Gaming completes sale of 5% FanDuel stake for $1.758B cash

## Summary
- Received $1.758 billion cash from Flutter Entertainment for 5% equity interest in FanDuel.
- Proceeds will be used to repay existing debt; company plans to maintain strong balance sheet.
- New agreements provide extended market access with fixed fees; FanDuel-branded sportsbooks will transition to Boyd-operated.
- Strategy remains to invest in properties, pursue growth, and return capital to shareholders.

## SEC filing metadata
- accession: 0001437749-25-024042
- form_type: 8-K
- ticker: BYD
- cik: 0000906553
- company_name: BOYD GAMING CORP
- filed_at: 2025-07-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906553/000143774925024042/0001437749-25-024042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906553/000143774925024042/bgc20250730_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-024042
- JSON: https://secwatch.observer/filing/0001437749-25-024042.json
- Plain text: https://secwatch.observer/filing/0001437749-25-024042.txt

## Key facts
- M&A Transactions
  BOYD GAMING CORP completed a disposition involving TSE Holdings Ltd. for aggregate cash consideration of $1.758 billion (closed 2025-07-31).
  - Action: disposition
  - Counterparty: TSE Holdings Ltd.
  - Consideration: aggregate cash consideration of $1.758 billion
  - Closing: 2025-07-31
  source text: entirely by Boyd Entities, but utilizing certain sports betting data feeds provided by FanDuel or its affiliate. Boyd Interactive was paid aggregate cash consideration of $1.758 billion in connection with the transactions contemplated by the Purchase Agreement. For additional information regarding the Purchase Agreement, see the Current Report on Form 8-K
  evidence_url: https://www.sec.gov/Archives/edgar/data/906553/000143774925024042/0001437749-25-024042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.