Flutter Entertainment Secures Complete Ownership of FanDuel
Flutter Completes Full Acquisition of FanDuel, Solidifying U.S. Market Leadership
In a significant move, Flutter Entertainment has finalised the acquisition of Boyd Gaming's remaining 5% stake in FanDuel, marking a consolidation of control over the leading U.S. sports betting and iGaming platform [1][5]. This deal, valued at approximately $1.755 billion, eliminates minority ownership complexities and enhances Flutter's operational flexibility [1][2].
The acquisition strengthens Flutter's position in the booming U.S. market, where FanDuel commands about 43% of the U.S. sports betting market share and is a top player in online casino gaming as well [1][4]. The deal is expected to unlock significant financial and operational synergies, accelerating growth and market leadership in the U.S.
One of the immediate impacts of the acquisition is the anticipated cost savings of approximately $65 million annually, starting July 1, 2025. These savings will result from reduced market access fees in key regulated states such as Iowa, Indiana, Kansas, Louisiana, and Pennsylvania [1][2][3].
The deal also extends Flutter’s strategic partnership with Boyd Gaming through 2038, ensuring ongoing collaboration and deeper market penetration in both digital and brick-and-mortar sportsbooks [1][2][3]. This partnership will see FanDuel managing Boyd's retail sportsbooks outside Nevada until mid-2026, as per the revised partnership terms [1][3].
With this consolidation, FanDuel remains in control of its operations as a leading sportsbook and top online casino in regulated U.S. markets, offering slots, table games, and live dealer options to customers seeking licensed real money gambling [1][4]. The acquisition also reinforces Flutter's intent to be the long-term leader in the large and expanding American online sports betting and iGaming sectors [4].
The deal comes as U.S. sports betting continues expanding across state markets. FanDuel is well-positioned to capitalise on increasing legalization and customer adoption of online wagering platforms in the U.S. market [4]. The transaction also sets a new valuation benchmark in the industry, reflecting a strategic vertical integration to fully own and control FanDuel's dominant brand and operations in the U.S. [1][5].
In summary, Flutter's full ownership of FanDuel not only solidifies its dominance but also unlocks significant financial and operational synergies that are expected to accelerate growth and market leadership in the U.S. [1][4]. The deal marks a significant milestone in the U.S. online gambling industry and positions Flutter as a key player in the expanding American sports betting and iGaming sectors.
[1] Flutter Entertainment Press Release, July 1, 2025 [2] Boyd Gaming Press Release, July 1, 2025 [3] FanDuel Press Release, July 1, 2025 [4] Grand View Research Report on U.S. Online Gambling Market, June 2025
In the transaction, Flutter's stake in FanDuel, the leading U.S. sports betting and iGaming platform, has increased significantly, enhancing their financial control and operational flexibility for sports betting and online casino gaming. This consolidation opens up opportunities for the company to capitalize on the increasing legalization and adoption of online wagering platforms, as well as pursue strategic partnerships and synergies.
