What Are the Ramifications of Boyd Divesting Its Investement in FanDuel

Boyd Gaming is divesting its five percent interest in FanDuel. What are the ramifications at Boyd properties?

In terms of bricks and mortar, Boyd casinos will continue to operate FanDuel-branded sports books until mid-2026. At that point, they will convert to some Boyd sports betting brand, as yet unannounced.

Digitally, Boyd will keep offering sports betting in Iowa, Indiana, Kansas, and Louisiana, and sports betting and igaming in Pennsylvania. This will be done through a flat-fee arrangement with FanDuel. These market-access agreements have been extended through 2038.

Boyd is receiving $1.5 billion in cash, plus $205 million in comped market-access services.

What will Boyd do with the money from Flutter, FanDuel's parent company? It will probably go toward share repurchases, special dividends, debt paydown, or possibly even merger-and-acquisition activity.

As for placing a bet with a FanDuel book, you’ve got another year to find them at Boyd properties. After mid-2026, it’s anybody’s guess where the FanDuel escutcheon will be hung.

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Comments

David Miller Aug-10-2025

Means Nothing to Me

 Ever since Boyd massacred their players club, I have not spent a minute or a dime in any of their casinos. Bean counters have ruined Boyd.

Kevin Rough Aug-10-2025

I never understood

Boyd sports books in Nevada are marketed as Boyd while those outside Nevada were FanDuel.

I did come across a FanDuel sports book at Tioga Downs in New York so even without Boyd, they would still be around.

Raymond Aug-10-2025

Me, either

Like Dave, I don't care who runs a given sports book.  I don't bet on sports often, and I base where I bet on convenience, ambience (if I'm going to watch an event), and odds (if I'm making along-term bet and take the time to research payoffs).

There are places where I never get near the sports book because I don't like the casino and don't go in to play, such as Caesar's or MGM Grand.  I have no issue with Boyd.

Eileen Aug-10-2025

David Miller

I agree completely!  I've done the same.  I do miss MSS and their buffet.  Even before the players club fiasco they wanted me to play at least 3X as much as I had been playing to get 3 free hotel nights.  Seems like lots of people still love Boyd, though.

Question of the Day - 10 August 2025

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