LAS VEGAS (KLAS) — Boyd Gaming will sell its 5% stake in FanDuel for $1.75 billion, an all-cash transaction that will produce a windfall for the casino operator.
Flutter Entertainment will gain full ownership of FanDuel, and Boyd Gaming “unlocks the tremendous unrealized value,” according to Boyd Chief Executive Officer Keith Smith. He described the company’s financial position as “significantly stronger.”
The move could also open growth opportunities…