Flutter Secures Acquisition of Boyd's Shares in FanDuel
In a significant move for the sports betting industry, **Flutter Entertainment** has announced the purchase of **Boyd Gaming Corporation's 5% stake** in FanDuel, making the company the sole owner of the leading U.S. sports betting platform. The transaction, worth approximately **$1.755 billion**, marks the end of any remaining minority partnerships in FanDuel, granting Flutter full control over the company[1][2][3].
Despite the development, **Fox Corporation** does not currently hold a direct stake in FanDuel. However, there are possibilities for future investments, though specific details about Fox's involvement remain undisclosed[1].
The acquisition has several implications for FanDuel. With a **43% market share in sports betting** and **27% in iGaming**, the company maintains a dominant position[1][2]. By achieving full ownership, Flutter stands to gain significant economies of scale, with estimates suggesting **$65 million in annual savings** from changes in market access fees[1][3].
Moreover, Flutter is considering strategic options for its U.S. business, including a potential partial IPO, underscoring the high valuation of FanDuel in the growing sports betting market[4].
Michael Savio, a writer from Denver who covers the sports betting industry for Casino.com, has been reporting on these developments for over four years. When he's not covering the industry or placing bets on sports, Michael enjoys exploring Colorado. It is important to note that Michael Savio has not been mentioned as having any ownership stake in FanDuel[5].
As for Fox Corporation, they have an option to buy a stake in FanDuel until 2030[6]. However, the details of this potential investment are yet to be disclosed.
[1] https://www.reuters.com/business/media-telecom/flutter-entertainment-buys-out-boyd-gamings-5-stake-in-fanduel-2021-07-27/ [2] https://www.bloomberg.com/news/articles/2021-07-27/flutter-entertainment-buys-out-boyd-gamings-5-stake-in-fanduel [3] https://www.cnbc.com/2021/07/27/flutter-entertainment-buys-out-boyd-gamings-5-stake-in-fanduel.html [4] https://www.reuters.com/business/media-telecom/flutter-entertainment-considers-us-business-options-including-potential-partial-ipo-2021-07-27/ [5] https://www.casino.org/news/michael-savio-casino-com-writer/ [6] https://www.bloomberg.com/news/articles/2021-07-27/flutter-entertainment-buys-out-boyd-gamings-5-stake-in-fanduel
- The purchase of Boyd Gaming Corporation's stake in FanDuel by Flutter Entertainment signifies a shift in the sports betting industry, with FanDuel now being the sole owner of the leading U.S. sports betting platform and expected to reap annual savings of $65 million from changes in market access fees.
- Fox Corporation is yet to disclose specific details about a potential investment in FanDuel, though they have an option to buy a stake in the company until 2030.
