iGaming Weekly Recap (June 7–13, 2025): Flutter Acquires Full Ownership of FanDuel
The past week was capped with major news as Flutter acquired full control of FanDuel by purchasing the remaining shares from Boyd. Additionally, an anti-sweepstakes bill took its first steps in California, while online casino legalization in Maine stalled until next year. What else happened in the industry last week?
Flutter Entertainment has taken full ownership of FanDuel, acquiring the remaining 5% stake from Boyd for $1.755 billion. The deal, valuing FanDuel at $31 billion, gives Flutter 100% control over a leading brand in the U.S. sports betting and iGaming market.
As part of the agreement, Flutter extended its strategic partnership with Boyd until 2038. Changes to market access terms in states like Indiana, Iowa, Kansas, Louisiana, and Pennsylvania, where Boyd facilitates FanDuel’s access, will reduce annual costs by $65 million starting July 1, 2025. It’s also worth noting that Fox retains an option to acquire an 18.6% stake in FanDuel by 2030 for $4.5 billion.
In California, progress was made on Assembly Bill 831 (AB 831), aimed at banning online sweepstakes casinos, particularly those using a “dual-currency” system that mimics casino-style gambling. Authored by Avelino Valencia and supported by Native American tribes, the bill passed its first vote in the Senate Governmental Organization Committee with a 10-0 result.
The Social Gaming Leadership Alliance (SGLA) and Social and Promotional Games Association (SPGA) call AB 831 “too vague, too rushed, and too risky.” They warn that the bill’s broad language and lack of definitions for key terms like “dual-currency system” or “indirect compensation” could criminalize legitimate promotions, such as Starbucks loyalty programs or state second-chance lottery initiatives.
The fate of Maine’s online casino bill, LD 1164, has been deferred to January 2026 due to a “pocket veto” by Governor Janet Mills, who neither signed nor vetoed the bill by the deadline. Governor Mills has a history of opposing gambling expansion and faces pressure from the Maine Gambling Control Board and the Department of Health and Human Services, which highlight risks of addiction and job losses at existing land-based casinos.
LD 1164 aims to legalize online casino gaming in Maine and grant exclusive operating rights to the four Wabanaki Nations: Penobscot, Passamaquoddy, Houlton Band of Maliseet Indians, and Mi’kmaq Nation, extending their existing monopoly on online sports betting.
Atlantic Digital, a London-based studio specializing in games tied to well-known entertainment brands, partnered with BetMGM to launch the first official online casino game based on the iconic TV show Friends. The slot game, titled Friends: The One With the Multi Drop™, was initially launched exclusively in Michigan and New Jersey, with plans to expand to additional U.S. markets.
Super Group (SGHC) Limited, the parent company of Betway and Spin, announced its intent to exit the U.S. iGaming market. The company anticipates a one-time restructuring cost of $30–40 million, with savings beginning in 2026. Despite this withdrawal, Super Group reported its best-ever quarter (Q2 2025), driven by strong sports betting performance outside the U.S. and high customer engagement.
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