Stifel raised the firm’s price target on Boyd Gaming (BYD) to $87 from $76 and keeps a Hold rating on the shares. Boyd is selling their 5% equity interest in FanDuel Group to Flutter Entertainment (FLUT) for $1.755B in cash, a deal that comes quicker than expected, the analyst tells investors in a research note. Boyd and FanDuel will also terminate certain existing market-access agreements and enter into new agreements that will run through 2038, and these agreements will provide Boyd with a fixed fee per state fom FanDuel’s mobile sports betting operations as well as FanDuel’s online casino operations in Pennsylvania.
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