Our Work
Latham Advises Banks on Flutter Entertainment’s FanDuel Financing
July 16, 2025
Banking team represents the financing sources supporting the transaction.
Flutter Entertainment (NYSE: FLUT; LSE: FLTR), the world’s leading online sports betting and iGaming operator, has announced the extension of its long-term strategic partnership with Boyd Gaming Corporation to 2038 and the buyout of Boyd’s 5% stake in FanDuel Group, pursuant to which Flutter will pay Boyd approximately US$1.755 billion to acquire Boyd’s 5% stake in FanDuel, taking Flutter’s holding in the #1 sports betting and iGaming business in the US to 100%. The transaction is expected to be completed in Q3 2025.
Latham & Watkins LLP represented the financing sources in the transaction with a banking team led by partner Michele Penzer, with associates Tulika Sinha, Sharon Yin, Jason Wang, and Kay Han Lee with assistance from Ryan Ng.