Boyd Gaming Corporation announced on July 10, 2025, its definitive agreement to sell its 5% equity interest in FanDuel Group to Flutter Entertainment plc for approximately $1.76 billion in cash. This transaction is expected to close in the third quarter of 2025, pending regulatory approvals.
The acquisition will increase Flutter's ownership in FanDuel, further consolidating its control over its leading U.S. online sports betting and iGaming brand. Boyd Gaming intends to use the net proceeds from the sale to reduce its existing debt.
In addition to the equity sale, Boyd and FanDuel will terminate certain existing market-access agreements and enter into new ones, extending their term through 2038. Under the revised agreements, Boyd will receive a fixed fee per state from FanDuel's mobile sports-betting operations in Iowa, Indiana, Kansas, Louisiana, and Pennsylvania, as well as its online casino operations in Pennsylvania.
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