LAS VEGAS (KLAS) — Boyd Gaming will promote its 5% stake in FanDuel for $1.75 billion, an all-cash transaction that may produce a windfall for the on line casino operator.
Flutter Leisure will acquire full possession of FanDuel, and Boyd Gaming “unlocks the tremendous unrealized value,” in keeping with Boyd Chief Government Officer Keith Smith. He described the corporate’s monetary place as “significantly stronger.”
The transfer may additionally open progress alternatives.
Boyd operates 10 casinos in Las Vegas and 19 others throughout the U.S.
“The partnership between Boyd and FanDuel has been a remarkable success for both companies,” Smith mentioned. “FanDuel has emerged as the nation’s clear leader in online sports-betting, while Boyd has been able to leverage this partnership to profitably participate in the rapid growth of sports betting across the country. It has been a privilege to work with the Flutter and FanDuel teams, and we look forward to supporting FanDuel’s continued growth and success through our market-access agreements across the country.”
The deal, topic to regulatory approvals, will enable Boyd to scale back debt.
A Thursday information launch offered further particulars on the association going ahead.
FanDuel and Boyd will enter new market-access agreements that may prolong by way of 2038. Boyd will get a set price per state from FanDuel’s cell sports-betting operations in Iowa, Indiana, Kansas, Louisiana and Pennsylvania, in addition to FanDuel’s on-line on line casino operations in Pennsylvania, upon the shut of this transaction.
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FanDuel may even proceed to function Boyd’s retail sportsbooks outdoors of Nevada by way of mid-2026, after which era Boyd will assume duty for these operations.
Boyd’s Las Vegas properties are:
Aliante On line casino + Resort + Spa
California Resort On line casino
Cannery On line casino Resort
Fremont Resort & On line casino
Gold Coast Resort & On line casino
Jokers Wild On line casino
Essential Avenue Station On line casino Brewery Resort
Sam’s City Resort & Playing Corridor, Las Vegas
Suncoast Resort & On line casino
The Orleans Resort & On line casino
Joker’s Wild on Boulder Freeway is within the midst of a development mission that may culminate in its transformation into Cadence Crossing, a on line casino mission designed to serve the southeast Las Vegas Valley.
The corporate’s shuttered East Facet Cannery property was lately within the information when it was concerned in a land sale crafted with the help of synthetic intelligence.
