BOYD GAMING COMPLETES SALE OF FANDUEL INTEREST

Rhea-AI Summary

Boyd Gaming (NYSE: BYD) has successfully completed the sale of its 5% equity stake in FanDuel Group to Flutter Entertainment plc (NYSE: FLUT) for $1.758 billion in cash proceeds.

The Company plans to utilize the proceeds to reduce existing debt while continuing its strategic focus on property investments, growth opportunities, and shareholder capital returns. This transaction marks a significant monetization event for Boyd Gaming as it celebrates its 50th anniversary in 2025, operating 28 gaming properties across 10 states.

Positive

• Received substantial cash proceeds of $1.758 billion from FanDuel stake sale
• Debt reduction planned with sale proceeds, strengthening balance sheet
• Maintains strategic flexibility for property investments and growth opportunities
• Commitment to returning capital to shareholders

Negative

• Divestment of stake in growing sports betting market through FanDuel exit

LAS VEGAS, July 31, 2025 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) ("the Company") today announced that it has completed the previously announced sale of the Company's 5% equity interest in FanDuel Group to Flutter Entertainment plc (NYSE: FLUT).

Boyd Gaming received cash proceeds of $1.758 billion from the transaction and intends to use proceeds to repay existing debt. The Company intends to continue executing its strategy of investing in its properties, pursuing growth opportunities and returning capital to shareholders while maintaining a strong balance sheet.

Forward-looking Statements and Company Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding future performance. These forward-looking statements are based on the current beliefs and expectations of management and involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Boyd Gaming's ability to control or estimate precisely. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company's other current and periodic reports filed from time to time with the SEC. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

About Boyd Gaming
Celebrating its 50^th anniversary in 2025, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 28 gaming entertainment properties in 10 states, manager of a tribal casino in northern California, and owner and operator of Boyd Interactive, a B2B and B2C online casino gaming business. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering guests an outstanding entertainment experience and memorable customer service. For additional Company information and press releases, visit https://investors.boydgaming.com.

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SOURCE Boyd Gaming Corporation

FAQ

How much did Boyd Gaming receive for selling its FanDuel stake?

Boyd Gaming received $1.758 billion in cash proceeds from selling its 5% equity stake in FanDuel Group to Flutter Entertainment.

What will Boyd Gaming (BYD) do with the FanDuel sale proceeds?

Boyd Gaming plans to use the proceeds to repay existing debt while continuing to invest in properties, pursue growth opportunities, and return capital to shareholders.

What percentage stake did Boyd Gaming sell in FanDuel?

Boyd Gaming sold its 5% equity interest in FanDuel Group to Flutter Entertainment.

How many gaming properties does Boyd Gaming operate in 2025?

Boyd Gaming operates 28 gaming entertainment properties across 10 states and manages a tribal casino in northern California.

Who bought Boyd Gaming's stake in FanDuel?

Flutter Entertainment plc (NYSE: FLUT) purchased Boyd Gaming's 5% stake in FanDuel Group.