Flutter Entertainment’s Control
FanDuel Casino operates under the ownership of Flutter Entertainment, an international gaming and sports betting corporation. Currently, Flutter holds a majority 61 percent stake in FanDuel. The company retains options to increase its share to 80 percent and eventually 100 percent ownership in the future.
Fox Corporation, while a minority stakeholder, owns a 2.5 percent share in Flutter Entertainment. Additionally, Fox has the option to purchase an 18.6 percent stake in FanDuel directly. This option, valid through 2030, was valued at $3.7 billion in 2023, with the value increasing five percent annually. By 2024, the estimated value rose to approximately $4.3 billion.
Business Model and Market Position
FanDuel’s operations encompass daily fantasy sports, sports betting, and casino games. The platform generates revenue through a house edge on casino bets and a ten percent commission on user participation fees in fantasy sports competitions. Its focus in these areas has made it a leading option for bettors across the United States.
FanDuel’s financial performance underscores this growth. With gross gaming revenue consistently hitting or surpassing 12 percent—and at times reaching 14 percent—it continues to outpace rivals such as DraftKings and BetMGM. For example, it led in same-game parlays in Illinois, capturing 54.4 percent of this segment over 12 months. Approximately half of online gambling dollars over the past year were spent on FanDuel.
Comparing Platforms for Online Gambling Services
The online gambling industry features various providers catering to different needs. FanDuel Casino stands apart with its extensive offerings, including casino games and integrated sports betting services. Competitors like DraftKings and BetMGM provide comparable services, but each has unique approaches to attracting users through promotions, trial offers, and loyalty rewards.
For instance, promos for FanDuel casino often include free-play credits and sign-up bonuses to entice players. These incentives play a major role in how users choose betting platforms.
Ownership Timeline and Flutter’s Ambitions
FanDuel joined Flutter Entertainment’s portfolio in 2018 after its acquisition by Flutter’s predecessor, Paddy Power Betfair. As part of the $158 million transaction, Paddy Power Betfair merged its U.S.-based assets with FanDuel. This process was finalized on July 11, 2018.
Additionally, Flutter has shifted focus to the U.S. market. The company moved its primary listing to the New York Stock Exchange, emphasizing its commitment to its North American expansion.
Financial and Market Valuation
By September 2024, Goldman Sachs valued FanDuel at $35 billion, adding appeal to Fox Corporation’s 18.6 percent stake in the company. This share could potentially have an open-market value nearing $6.5 billion.
FanDuel’s influence is fueled by its broad legalization footprint, operating in 20 states, Washington, DC, and Ontario, Canada. It is particularly popular among users with household incomes below $50,000, where it ranks as the top choice.
FanDuel Casino’s momentum is further sustained by targeted promotions, a focus on responsible gaming, and partnerships with organizations such as The Cordish Companies. These strategies maintain its leadership in a competitive and lucrative market.
Hayden Richards is Contributor of IntelligentHQ. He specialises in finance, trading, investment, and technology, with expertise in both buy-side, sell-side. Contributing and advising various global corporations, Hayden is a thought leader, researching on global regulatory subjects, digital, social media strategies and new trends for Businesses, Capital Markets and Financial Services.
Aside from the articles, interviews and content he writes for IntelligentHQ, Hayden is also a content curator for capital markets, analytic platforms and business industry emerging trends. An avid new media explorer Hayden is driven by a passion for business development, innovation, social business, Tech Trading, payments and eCommerce. A native Trinidadian, Hayden is also a veteran, having served with the Royal Air Force Reserves for the past 10 years.
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