Mourant advises on gaming group cash box structure

Leading offshore law firm, Mourant has assisted with the accelerated acquisition of a global sports betting and gaming group in a multi-billion Euro deal.

Flutter Entertainment plc has acquired a further 37.2% stake in FanDuel Group Parent LLC, taking its stake in the US-based business to 95%. The deal being implemented in part by way of a Jersey cash box structure.

The Irish global sports betting, gaming and entertainment provider conditionally agreed an acquisition price of €3.4 billion – buying out existing investors including Google Ventures and KKR.

The Mourant team, led by Jersey partner and Finance & Corporate International Practice Group Head James Hill, and principally supported by Senior Associate Sam Malpass and Trainee Vicky Youngs, assisted onshore law firm, Arthur Cox with the deal.

James Hill said:

"We're delighted to have worked on this transaction, which has seen Flutter increase its stake in FanDuel to 95%. We've undertaken a large volume of cash box transactions this year. It was a pleasure to have assisted Arthur Cox for the second time in recent weeks, further strengthening our relationship with their team. "

The Mourant Finance & Corporate team, supported by Mourant Governance Services, continue to advise numerous listed companies, including household names, on their cash box structures.