Flutter Secures Full Ownership of FanDuel in Boyd Deal
Why we think this is good
The completion of the agreement between Flutter and Boyd Gaming to secure 100% ownership of the FanDuel business is a positive development for Flutter. While the RNS lacks specific financial details, the full ownership of a leading US sports betting and iGaming brand like FanDuel is a strategic win for Flutter, as it strengthens their market position and long-term growth prospects in the US. The partnership with Boyd Gaming also provides validation for the FanDuel business. However, the lack of a clear timeline for the financial impact and some unquantified financials temper the overall sentiment.
Key Points
- Flutter completes agreement to secure 100% ownership of FanDuel
- Extends long-term strategic partnership with Boyd Gaming to 2038
- Buyout of Boyd's 5% stake in FanDuel Group
Summary
Flutter Entertainment has announced the completion of its agreement with Boyd Gaming Corporation to extend their long-term strategic partnership to 2038 and buy out Boyd's 5% stake in the FanDuel Group. This transaction will give Flutter full ownership of the FanDuel business, a leading US sports betting and iGaming brand. While the RNS lacks specific financial details, this move is expected to strengthen Flutter's market position and growth prospects in the lucrative US market.