Paddy Power Betfair parent will also make a payment of $205m for the renegotiation of its market access at more attractive terms
Paddy Power Betfair parent Flutter has extended its partnership with Boyd Gaming out to 2038 and bought out the group’s 5 per cent stake in gambling company FanDuel for $1.75 billion .
Davy analyst Paul Ruddy described the deal as “undoubtedly a good use of capital as it provides additional certainty around market access and increased ownership of this key strategic asset”.Pat Casey: ‘When I was hired there were only two job titles at ServiceNow’ FanDuel is the market leader in the United States with a 43 per cent market share in sports betting and 27 per cent in iGaming.
Flutter chief executive Peter Jackson described the company’s acquisition of FanDuel in 2018 as “one of the most transformational events in our group’s history”.
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