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Penn Entertainment (NASDAQ:PENN) rose 3.4% amid a report that Flutter (FLUT) is interested in the interactive assets of Penn. Flutter pared some of an earlier gain amid the news.
Flutter (FLUT) may want to partner with Boyd Gaming (BYD) as the owner of FanDuel is interested in Penn’s interactive assets, according to a report from TheDeal.com on Friday, which cited unidentified sources.
The story comes after a Reuters report last month that Boyd (BYD) made a takeover approach for Penn (PENN). Activist investor Donerail Group in May said PENN could attract double its current trading price in a sale and urged the company to put itself on the market.
Boyd (BYD) is set to report Q2 results on July 25.