|Bid||42.21 x 1100|
|Ask||42.14 x 1200|
|Day's Range||40.17 - 42.36|
|52 Week Range||6.44 - 42.36|
|Beta (5Y Monthly)||2.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 18, 2021 - Feb 22, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 26, 2019|
|1y Target Est||42.36|
Flutter Entertainment (OTC: PDYPF) is one step closer to having complete ownership of fantasy sports and sports betting giant FanDuel after the sportsbook announced it was acquiring an additional 37% stake in the business, bringing its ownership position to 95%. Boyd Gaming owns the remaining 5% interest. Flutter is buying the position from FanDuel owner Fastball Holdings and will pay $2.1 billion in cash plus about 11.7 million in new Flutter stock.
Flutter Entertainment said it's paying $4.2 billion to acquire 37% of FanDuel, the sports-betting and daily fantasy site, from Fastball. Flutter said the deal will take its Fanduel stake to 95% and materially increases its exposure to the U.S. market, "the most attractive sector opportunity today." Flutter said the deal will be combination of $2.09 billion in cash and the issue of approximately 11.7 million new Flutter ordinary shares directly to Fastball, which will then hold 7% of Flutter. Fox Corp. CEO Lachlan Murdoch said maintaining its ownership stake in Flutter signals its "ongoing confidence in management's ability to execute against the fast growing U.S. opportunity." Boyd Gaming will continue to hold 5% of Fanduel, and Flutter intends to offer to FOX Sports the option to purchase 18.5% of FanDuel at fair market value in July 2021.
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