Boyd Gaming To Sell 5% Stake In FanDuel Group To Flutter Entertainment For $1.755 Bln

Boyd Gaming

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(RTTNews) - Boyd Gaming Corporation (BYD) said Thursday it has agreed to sell the company's 5% equity interest in FanDuel Group to Flutter Entertainment plc (FLUT) for cash consideration of $1.755 billion.

The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals. The company intends to use the net proceeds to reduce debt.

Keith Smith, President and Chief Executive Officer of Boyd, said: "This transaction unlocks the tremendous unrealized value that our investment in FanDuel has created for our Company. As a result, we are in a significantly stronger financial position to continue executing our strategy of investing in our properties, pursuing growth opportunities, returning capital to our shareholders, and maintaining a strong balance sheet."

In addition to purchasing Boyd's equity interest in FanDuel, Boyd and FanDuel will terminate certain existing market-access agreements between the parties and enter into new agreements to provide, among other things, for an extended term through 2038.

Under terms of the revised market-access agreements with FanDuel, the company now expects its Online segment will generate $50 million to $55 million in operating income and Adjusted EBITDAR for the full year 2025, and approximately $30 million in 2026.