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Saturday, October 18, 2025

Flutter grows FanDuel stake in $4.2 billion deal

Ryan Armbrust, Cincinnati Enquirer

Ireland-based Flutter Entertainment is buying out Fastball Holdings’ stake in FanDuel in a deal worth $4.2 billion. The transaction takes Flutter’s share of the online gaming company — which now has an estimated enterprise value of $11.2 billion — from 57.8% to 95%.

Flutter’s U.S. business, which is largely driven by FanDuel, saw its revenue increase 82% to $213 million in the third quarter. FanDuel said it has more than doubled its active sportsbook customers since last year. 

On a roll: The deal follows Flutter’s acquisition of Canadian gaming company The Stars Group in May, which included complete ownership of Fox Bet. Fox Corp., which currently owns a 2.6% stake in Flutter, will take part in the capital raising for the FanDuel buyout.

  • Flutter also operates a variety of sportsbooks overseas, including Paddy Power, Betfair and Sky Bet.

International and U.S. gambling companies have been merging as of late:

  • U.S. casino operator Caesars Entertainment agreed to acquire Britain’s William Hill for $3.7 billion in September.
  • Online gaming provider 888 signed three multi-year market access agreements to launch in Colorado, Indiana and Iowa with the 888Sport brand during 2021.
  • Sports betting and casino company BetMGM is a joint venture between MGM Resorts and Europe-based GVC Holdings. 

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