Flutter Entertainment has acquired Tombola adding the UK’s “most recreational” online bingo operator to its brands.
As part of the acquisition, Flutter will pay £402m in cash upon completion for 100 per cent of the business. The transaction is conditional on merger control clearance by the UK Competition and Markets Authority and is expected to be completed in Q1 2022.
“As the world’s leading online gambling operator, Flutter is delighted to add Tombola, the UK’s premier bingo brand to the group,” commented Peter Jackson, Flutter chief executive.
“Tombola is a business we have long admired for its product expertise, highly recreational customer base and focus on sustainable play. The brand aligns closely with Flutter’s safer gambling strategy, a key area of focus for us.
“I am excited to combine Flutter’s digital marketing expertise with Tombola’s operational capabilities within the UK & Ireland division.
“As the time comes for Phil to hand over the reins, I would like to thank him for building the success story that the business is today, and I look forward to welcoming the Tombola team to Flutter and growing a sustainable business for the future together.”
Flutter Entertainment believes that the addition of Tombola to its portfolio will deliver several “key strategic advantages” such as diversification of its products.
The operator group highlighted that Tombola will also create a more engaged and sustainable player base while also enhancing Flutter’s safer gambling strategy.
Tombola, with teams primarily located in Sunderland and Gibraltar, is a bingo-led gaming company with an emphasis on providing a low-staking bingo proposition to its customer base.
It was the first major UK-focused operator to introduce both mandatory staking and deposit limits, building a highly sustainable player base over the last 16 years.