An arbitrator has reached a ruling in the long-running legal battle between Fox Corp. and Flutter, a decision that could have significant ramifications for the future of U.S. sportsbooks FanDuel and Fox Bet.
The disagreement centered around complexities that arose after Flutter purchased The Stars Group in early 2020. The move expanded Flutter’s portfolio to include Fox Bet, a competitor to Flutter-owned FanDuel, raising questions about how the gaming giant would allocate U.S. resources to both brands. Fox also held a ten-year option to purchase a large chunk of The Stars Group’s U.S. business, a right that the media company believed translated to an option to buy 18.6% of FanDuel at a later date.
