Description
Boyd Gaming: An Insight Into Its FanDuel Stake Monetization, Las Vegas Locals & Regional Market Momentum!
Boyd Gaming reported a quarter characterized by strong operational results, significant capital deployment, and a transformative monetization of its digital gaming stake. The company announced the sale of its 5% equity interest in FanDuel to Flutter Entertainment for $1.755 billion in cash, with after-tax proceeds of approximately $1.4 billion. Proceeds will be used to repay outstanding credit facility debt, lowering leverage from 2.8x to below 2x and resulting in estimated annual interest savings of $85 million. Boyd Gaming also extended its market access agreements with FanDuel through 2038 under a reduced fee structure, while updating guidance for online EBITDAR to $50–55 million in 2025 and $30 million in 2026, reflecting the reset of economics under the new agreement. This transaction strengthens the company’s balance sheet and creates flexibility for future growth initiatives and increased capital returns.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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