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LAS VEGAS - Boyd Gaming Corporation (NYSE:BYD), a casino operator with a market capitalization of $7.06 billion and an impressive gross profit margin of 61%, announced today it has completed the sale of its 5% equity interest in FanDuel Group to Flutter Entertainment plc (NYSE:FLUT) for $1.758 billion in cash.
The transaction, which was previously announced, will provide Boyd Gaming with funds that the company plans to use for debt reduction. The casino operator, which according to InvestingPro analysis maintains a "GREAT" financial health score, also stated it would continue its strategy of investing in properties, pursuing growth opportunities and returning capital to shareholders while maintaining a strong balance sheet. The company has demonstrated its commitment to shareholder returns by raising its dividend for three consecutive years.
The sale comes as Boyd Gaming celebrates its 50th anniversary in 2025. The company currently operates 28 gaming entertainment properties across 10 states and manages a tribal casino in northern California. Boyd also owns and operates Boyd Interactive, an online casino gaming business.
The divestiture of the FanDuel stake represents a significant transaction for Boyd Gaming as it focuses on its core operations and financial priorities.
This information is based on a press release statement issued by Boyd Gaming Corporation.
In other recent news, Boyd Gaming Corporation reported impressive financial results for the second quarter of 2025, outperforming analysts’ expectations. The company achieved an earnings per share of $1.87, which was higher than the anticipated $1.65. Revenue also surpassed forecasts, reaching $1.03 billion compared to the expected $979.42 million. These results highlight the company’s strong performance in the recent period. Despite the positive earnings report, the stock experienced a slight decline during regular trading hours. However, it showed a minor recovery in aftermarket trading. Investors and analysts are closely monitoring these developments. Boyd Gaming’s recent performance underscores its ability to exceed market expectations.
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