Flutter Purchases Final 5% Stake in FanDuel from Boyd
Flutter Entertainment reached an agreement with Boyd Gaming Corporation to purchase the remaining 5% of FanDuel for about $1.8 billion.
The deal will put Dublin-based Flutter back in full control of FanDuel, the leading sports betting provider in America. The $1.8 billion fee also gives FanDuel an estimated total valuation of $31 billion.
Boyd said the transaction provided it with “tremendous unrealized value” from its initial investment, which came in 2018. The deal is expected to close in the third quarter.