02:41 PM EDT, 07/11/2025 (MT Newswires) -- Boyd Gaming ( BYD ) selling its 5% FanDuel stake to Flutter Entertainment ( FLUT ) and renewing market access fee agreement in a $1.75 billion deal is a win-win for both companies, Truist said in a Friday research report.

Boyd Gaming ( BYD ) will receive net proceeds of nearly $1.3 billion post-tax, which it will use to pay down debt. The transaction is expected to close in Q3, the firm noted.

While Boyd Gaming ( BYD ) will lose $50 million to $55 million in earnings before interest, taxes, depreciation, and amortization from its online segment, with revised market access, extended till 2038, the company will gain $80 million to $85 million of interest savings after debt paydown, the brokerage noted.

The transaction will see Flutter simplify its FanDuel ownership to 100% before factoring FoxBet's option, expected to save the company almost $65 million in annual operating costs, analysts wrote.

Truist reiterated its buy rating on Boyd and Flutter and maintained its price target for Boyd at $85 per share.

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