Flutter Entertainment has acquired Boyd Gaming’s remaining 5% stake in FanDuel, completing its journey to full ownership of the U.S. sports betting powerhouse. Originally acquired in 2018 through Paddy Power Betfair’s $158 million deal, Flutter’s stake has now been fully consolidated, placing FanDuel’s valuation at $31 billion. Boyd Gaming walks away with a tenfold return, reinforcing the value growth of FanDuel over the years. As part of this agreement, Flutter has also extended its strategic partnership with Boyd until 2038.
Fox still retains an option to buy an 18.6% stake in FanDuel before December 2030, though the valuation continues to rise. Flutter’s move demonstrates strong confidence in the U.S. market, as it tightens its grip ahead of upcoming Q2 2025 results.
