Call it an investment in the American market as Flutter acquires FanDuel shares which give them over a 37% stake in the company.
The minority shareholder’s stake cost them over $4.1 billion and lifts Flutter’s stake in FanDuel from 57% to 95%.
FanDuel CEO, Matt King, stated that the news “…affirms FanDuel’s market-leading position in the US and our meaningful growth trajectory…”
FanDuel has recently partnered with the NBA’s Detroit Pistons and Memphis Grizzlies on a sports-betting partnership. The company also launched its online sports betting app in Tennessee in October.
FanDuel Group is a New York City headquartered gaming company that offers sports book, daily fantasy sports, online casino and online horse race betting products.
Originally founded in 2009, the company operates sports books in a number of states including New Jersey, Pennsylvania, Indiana and West Virginia; an online horse race betting platform; and a daily fantasy sports service.
You can read more about how Flutter acquires FanDuel when you visit Fox News.