Dec. 3, 2020, By Steve Goldstein
Flutter Entertainment on Thursday struck a $4.2 billion deal to secure control of most of FanDuel, the latest deal in the fast-moving U.S. sports-betting market. Flutter FLTR, +3.49% FLTR, +4.97% said it will pay cash and stock to buy 37% of FanDuel, which operates U.S. sports betting and daily fantasy, from Fastball Holdings.
Fastball Holdings is a consortium of Google Ventures GOOG, +0.06%, Comcast Ventures CMCSA, +0.19%, KKR KKR, +0.89%, Verizon Ventures VZ, -0.30%,NBC Sports Group, and Shamrock. Fastball will hold 7% of Flutter after the deal completes. Note: VPEG is an equity participant in Fastball Holdings, LLC.
— Flutter strikes $4.2 billion deal to control most of FanDuel