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Boyd Gaming agrees to sell FanDuel stake to Flutter for $1.75bn

Deals & M&A

Boyd Gaming announced an agreement to sell its 5% FanDuel stake to Flutter Entertainment for $1.75bn in cash. The deal is expected to close in Q3 2025, and Boyd said it intends to use the proceeds to reduce debt. Revised market-access agreements will continue through 2038, while Boyd will take over its retail sportsbooks outside Nevada after mid-2026.

The sale gives Flutter full FanDuel ownership, while Boyd plans to reduce debt and changes sportsbook arrangements.

End-of-day close Boyd Gaming (BYD), USD, to 22 August 2025
Story date27 May 202522 August 2025

Latest reported results

Boyd Gaming NYSE: BYD

Quarter ended 30 September 2026

Revenue
USD 990.5m10-Q filing 0001437749-26-033786
Operating income
USD 194.9m10-Q filing 0001437749-26-033786

Flutter NYSE: FLUT

Quarter ended 30 September 2026

Revenue
USD 3.87bn
Operating income
−USD 1.19bn10-Q filing 0001635327-26-000059

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Analysts assess Flutter-Boyd deal, IGT sale and Genius Sports outlook

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