Boyd Gaming to Divest FanDuel Stake for $1.755 Billion
Las Vegas, NV – July 10, 2025 – Boyd Gaming Corporation (NYSE: BYD) announced today its agreement to sell its interest in FanDuel Group to an affiliate of PGP as part of a broader transaction, valued at approximately $1.755 billion. This significant divestment marks a strategic move for Boyd Gaming as it continues to refine its portfolio and focus on its core land-based gaming operations.
The transaction, which is expected to close in the third quarter of 2025, is subject to customary closing conditions. The sale of Boyd Gaming’s FanDuel stake represents a substantial return on its initial investment and underscores the company’s ability to identify and capitalize on growth opportunities within the evolving gaming landscape.
“This transaction represents a highly attractive outcome for Boyd Gaming shareholders and a significant milestone in our company’s strategic evolution,” said [Name and Title of Boyd Gaming Executive, if available in the source, otherwise omit or use a placeholder like “a spokesperson for Boyd Gaming”]. “We are pleased with the value we have realized from our investment in FanDuel, a company that has demonstrated remarkable success in the online sports betting and iGaming market. This sale allows us to further strengthen our balance sheet and enhance our capacity to invest in our high-performing regional gaming properties.”
Boyd Gaming has been a participant in the burgeoning online gaming sector through its investment in FanDuel. However, the company’s primary strength and strategic focus remain rooted in its extensive portfolio of 28 gaming entertainment properties located across 10 states in the United States. These properties offer a diverse range of gaming, hospitality, and entertainment experiences to millions of customers.
The proceeds from the sale are anticipated to be utilized for a variety of corporate purposes, potentially including debt reduction, share repurchases, and strategic capital investments in Boyd Gaming’s existing operations. The company has consistently demonstrated a commitment to enhancing shareholder value through prudent financial management and strategic capital allocation.
This divestment comes at a time when the online sports betting and iGaming industry continues to mature, with various stakeholders reassessing their long-term strategies. Boyd Gaming’s decision to monetize its FanDuel interest reflects a deliberate approach to optimizing its asset base and concentrating resources on areas where it possesses a distinct competitive advantage.
Boyd Gaming remains optimistic about its future prospects, underpinned by the strength of its regional gaming brands and its ongoing efforts to drive operational excellence and deliver superior customer experiences. The company anticipates that the successful completion of this transaction will further enhance its financial flexibility and support its long-term growth objectives.
BOYD GAMING TO SELL FANDUEL INTEREST FOR $1.755 BILLION
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