BOYD GAMING COMPLETES SALE OF FANDUEL INTEREST
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.
Boyd Gaming (NYSE: BYD) ha completato con successo la vendita della sua quota azionaria del 5% in FanDuel Group a Flutter Entertainment plc (NYSE: FLUT) per 1,758 miliardi di dollari in contanti.
L'azienda intende utilizzare i proventi per ridurre il debito esistente, continuando nel contempo a concentrarsi strategicamente sugli investimenti immobiliari, sulle opportunità di crescita e sui ritorni di capitale agli azionisti. Questa operazione rappresenta un'importante monetizzazione per Boyd Gaming, che nel 2025 celebrerà il suo 50º anniversario, gestendo 28 strutture di gioco in 10 stati.
Boyd Gaming (NYSE: BYD) ha completado con éxito la venta de su participación accionaria del 5% en FanDuel Group a Flutter Entertainment plc (NYSE: FLUT) por 1.758 millones de dólares en efectivo.
La compañía planea utilizar los ingresos para reducir la deuda existente, mientras continúa enfocándose estratégicamente en inversiones inmobiliarias, oportunidades de crecimiento y retornos de capital para los accionistas. Esta transacción representa un importante evento de monetización para Boyd Gaming, que celebrará su 50º aniversario en 2025, operando 28 propiedades de juego en 10 estados.
Boyd Gaming (NYSE: BYD)는 Flutter Entertainment plc (NYSE: FLUT)에 FanDuel Group의 5% 지분을 현금 17억 5,800만 달러에 성공적으로 매각했습니다.
회사는 이번 매각 대금을 기존 부채 상환에 사용하면서 부동산 투자, 성장 기회, 주주 자본 환원에 대한 전략적 집중을 계속할 계획입니다. 이 거래는 2025년 50주년을 맞이하는 Boyd Gaming에게 중요한 자산 현금화 사건으로, 10개 주에서 28개의 게임 시설을 운영하고 있습니다.
Boyd Gaming (NYSE : BYD) a finalisé avec succès la vente de sa participation de 5 % dans FanDuel Group à Flutter Entertainment plc (NYSE : FLUT) pour 1,758 milliard de dollars en liquidités.
La société prévoit d'utiliser les fonds pour réduire sa dette existante tout en poursuivant son orientation stratégique vers les investissements immobiliers, les opportunités de croissance et les retours de capital aux actionnaires. Cette transaction représente un événement important de monétisation pour Boyd Gaming, qui célébrera son 50e anniversaire en 2025, exploitant 28 établissements de jeux répartis dans 10 États.
Boyd Gaming (NYSE: BYD) hat den Verkauf seiner 5%igen Beteiligung an der FanDuel Group an Flutter Entertainment plc (NYSE: FLUT) erfolgreich abgeschlossen und dafür 1,758 Milliarden US-Dollar in bar erhalten.
Das Unternehmen plant, die Erlöse zur Reduzierung bestehender Schulden zu verwenden und gleichzeitig weiterhin strategisch in Immobilieninvestitionen, Wachstumschancen und Kapitalrückführungen an die Aktionäre zu investieren. Diese Transaktion stellt ein bedeutendes Monetarisierungsereignis für Boyd Gaming dar, das 2025 sein 50-jähriges Bestehen feiert und 28 Glücksspielbetriebe in 10 Bundesstaaten betreibt.
- 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
- Divestment of stake in growing sports betting market through FanDuel exit
Insights
Boyd Gaming sold its 5% FanDuel stake for $1.758B, significantly reducing debt and strengthening its financial position.
Boyd Gaming has successfully monetized its 5% equity stake in FanDuel through a sale to Flutter Entertainment, generating substantial
The size of this transaction is particularly noteworthy relative to Boyd's overall enterprise value. By prioritizing debt reduction, management is taking a conservative approach to capital allocation that reduces financial risk. However, the company's statement also indicates a balanced financial strategy moving forward, with commitments to property investments, growth opportunities, and shareholder returns.
This transaction effectively converts a minority investment position into immediate cash, eliminating the illiquidity discount typically associated with such holdings while giving Boyd enhanced financial flexibility. The timing suggests management may see this as an opportune moment to realize the value of this non-core asset, potentially indicating their view on FanDuel's current valuation relative to future prospects. For a company celebrating its 50th anniversary, this strategic move demonstrates financial discipline while creating optionality for future capital deployment initiatives.
Boyd Gaming received cash proceeds of
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 50th 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
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SOURCE Boyd Gaming Corporation
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