Flutter Entertainment has acquired Boyd Gaming's 5% stake in FanDuel, increasing its ownership to 100% and extending their strategic partnership to 2038.

Target Company Overview

Flutter Entertainment (NYSE: FLUT; LSE: FLTR) is a global leader in online sports betting and iGaming operations, recognized for its innovative approach and market dominance. As part of its ongoing strategy, Flutter has announced the acquisition of Boyd Gaming Corporation's 5% stake in FanDuel Group, solidifying its complete ownership of the top sports betting and iGaming platform in the United States. This move is expected to enhance Flutter's operational efficiencies and market leverage.

Industry Overview

The sports betting and iGaming industry in the United States has experienced significant growth, driven by the legalization of betting in various states and increasing consumer interest. FanDuel has established itself as a prominent player, commanding a 43% market share in sports betting and a 27% share in iGaming, thanks to various innovative offerings and user-friendly interfaces. Flutter's acquisition enhances its position within this burgeoning market, paving the way for further expansion.

The U.S. market has seen an influx of investment, creating a competitive landscape characterized by rapid technological advancements and innovative gaming options. The partnerships, such as the one between