Global wagering giant Flutter has secured 100 per cent of American market leader FanDuel.
Flutter, the parent company of Australia’s biggest corporate bookmaker, Sportsbet, owned 95 per cent of FanDuel with the remaining five per cent held by Boyd Gaming.
In a deal finalised this week, it bought Boyd out in a US$1.755 billion transaction, which values FanDuel at over $31 billion.
The first major stake of FanDuel cost Paddy Power/Betfair, now Flutter, just US$158m in May 2018.
Flutter has also extended its strategic partnership with Boyd until 2038 as part of the overall deal, while an option remains open for Fox Sports to secure 18.6% of equity interest in FanDuel before December 2030.
