Flutter Entertainment will buy Boyd Gaming's 5% stake in FanDuel for about $1.76 billion, giving it complete ownership of the online betting operator, the companies said on Thursday. The deal gives FanDuel an implied valuation of about $31 billion,

Boyd Gaming Corporation has reached a definitive agreement to sell its remaining 5% interest in FanDuel Group to Flutter Entertainment for approximately $1.76 billion in cash, a move that hands full ownership of the leading U.S. online betting operator to the Dublin-based gaming giant.