Flutter Entertainment PLC, the Irish‑American online‑gambling colossus, went all‑in Friday, agreeing to buy Boyd Gaming Corp.’s remaining 5 % stake in FanDuel Group for $1.76 billion—a bet sized like a Vegas high‑roller’s stack that will give Flutter 100 % control of the U.S. sports‑betting heavyweight. The deal, funded by a 12‑month $1.75 billion bank loan, pegs FanDuel’s valuation at a cool $31 billion.
Market Giant Tightens Its Grip
FanDuel already commands 43 % of U.S. sports‑betting handle and 27 % of iGaming, and Flutter’s chief executive Peter Jackson called the 2018 FanDuel buy‑in “one of the most transformational events in our group’s history.” Friday’s move, he added, “drives future value for shareholders” by cementing outright control and stretching the companies’ strategic partnership through 2038.
Savings, Access, and Silver‑Bullets
Under the revised pact, FanDuel will still run Boyd’s Nevada retail sports books until mid‑2026, yet Flutter expects to save about $65 million a year thanks to sharply lower market‑access fees where Boyd opens doors. Think of it as trading a pricey suite for a long‑term lease at sportsbook central.
Morrison & Foerster LLP shepherded Boyd, while Brownstein Hyatt Farber Schreck LLP steered the commercial terms—legal pit bosses ensuring every chip lands square.
