FanDuel has shown that category defining companies can be created from anywhere. From small beginnings in Edinburgh, the world’s largest daily fantasy sports business was created. In 2018, FanDuel merged with the US operations of Flutter Entertainment plc, the global sports betting, gaming, and entertainment provider. And now Flutter has announced its intention to acquire the remaining 37% stake in FanDuel for $4.2 billion, giving FanDuel an implied enterprise value of $11.2 billion.
Date: December 16, 2020