FanDuel sued

Flutter Acquires FanDuel Stake for $4 Billion

Call it an investment in the American market as Flutter acquires FanDuel shares which give them over a 37% stake in the company. The minority shareholder’s stake cost them over $4.1 billion and lifts Flutter’s stake in FanDuel from 57% to 95%. FanDuel CEO, Matt King, stated that the news “…affirms FanDuel’s market-leading position in the US and our meaningful growth trajectory…” FanDuel has recently partnered with the NBA’s Detroit Pistons and Memphis Grizzlies on a sports-betting partnership. The company also launched its online sports betting app in Tennessee in October. FanDuel Group is a New York City headquartered gaming…