Flutter Entertainment Secures Complete Authority Over FanDuel Operations
In a significant move, Flutter Entertainment has completed the acquisition of Boyd Gaming's remaining 5% stake in FanDuel, solidifying its 100% ownership of the dominant U.S. sports betting platform. The deal, valued at approximately $1.755 billion, was finalised on July 31, 2025.
The acquisition consolidates FanDuel's position in the rapidly growing U.S. sports betting and iGaming market, currently valued at over $31 billion and projected to grow at a 12% compound annual growth rate through 2030. FanDuel controls about 43% of the U.S. sports betting market share, a significant influence that amplifies Flutter's competitive edge.
Key benefits of the acquisition include operational and financial efficiency. Flutter expects annual savings of around $65 million starting July 2025 by reducing market access fees across key states such as Iowa, Indiana, Kansas, Louisiana, and Pennsylvania. This cost reduction increases margin potential and financial flexibility.
The deal also strengthens Flutter's market position, enhances vertical integration, and provides more flexibility in operational decision-making in the competitive U.S. market. Full ownership of FanDuel allows Flutter to fully deploy its proprietary technology ("Flutter Edge") and deep U.S. consumer insights, driving product innovation, customer acquisition, and retention.
Moreover, the acquisition supports FanDuel's position to capitalise on increasing legalization and customer adoption of online wagering platforms in expanding U.S. sports betting markets. The consolidation also ensures continued cooperation on physical sportsbooks and shared market access between Flutter and Boyd Gaming, maintaining a strong foothold in both online and brick-and-mortar domains.
Boyd Gaming, on the other hand, will benefit from strengthened balance sheet flexibility due to the transaction. The company will assume full operational control of its retail sportsbooks outside Nevada from mid-2026, while FanDuel will manage these sportsbooks until then.
FanDuel operates as a leading sportsbook and one of the top online casinos in regulated U.S. markets, offering slots, table games, and live dealer options to customers seeking licensed real money gambling. The acquisition values FanDuel at approximately $31 billion, securing Flutter's position as the leading online sports betting and iGaming operator globally.
The strategic partnership between Flutter and Boyd Gaming extends through 2038, ensuring ongoing collaboration in the U.S. market. Boyd Gaming will continue receiving fixed fees from FanDuel's mobile sports betting operations in several states, further solidifying the partnership.
In summary, Flutter's complete acquisition of FanDuel represents a strategic masterstroke by securing full control over a market-leading U.S. sports betting and iGaming platform, reducing costs, improving operational agility, and solidifying dominance in a consolidating and expanding market.
- The acquisition of Boyd Gaming's remaining stake in FanDuel by Flutter Entertainment values FanDuel at approximately $31 billion, positioning Flutter as the leading online sports betting and iGaming operator globally.
- Flutter expects to achieve annual savings of around $65 million starting July 2025 by reducing market access fees across key states, increasing margin potential and financial flexibility.
- The acquisition enables Flutter full deployment of its proprietary technology and deep U.S. consumer insights, driving product innovation, customer acquisition, and retention in the competitive U.S. market.
