Flutter’s US casino partner to borrow $600m as business reopens
Boyd Gaming gives Paddy Power’s US sister company Fanduel a bricks-and-mortar presence in US
Boyd Gaming, the US casino partner of Paddy Power-owner Flutter, hopes to complete a deal to borrow $600m this week
The US casino partner of Paddy Power-owner Flutter hopes to complete a deal to borrow $600 million (€555m) this week as prepares to reopen some of its businesses.
New York-listed Boyd plans to borrow $600 million in a bond issue it hopes to complete on Thursday. The group originally announced that it would borrow $500 million, but upped the figure to $600 million at the end of last week.
Boyd, which runs casinos across the US, says it will use the cash for “general corporate purposes”.
Fanduel needs a bricks-and-mortar presence in the US states where it is licensed to provide digital sports betting. It chose Boyd as its partner in 2018 after a federal court ruling liberalised betting on sports, including football, baseball and basketball.