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Flutter raises FanDuel stake to 95%

Flutter Entertainment PLC on Dec. 30 completed its previously announced acquisition of a 37.2% stake in FanDuel Inc., raising its ownership of the U.S. fantasy sports platform operator to 95%.

The U.K.-based sports betting and gaming company acquired the stake from Fastball Holdings in a $4.18 billion transaction.

Flutter aims to increase its exposure to the U.S. market through the deal.