Flutter Entertainment to Buy Tombola for £403m
The buyout will see Flutter pay £403m for the brand and take full ownership of Tombola.
In statements from both brands, it has been announced that Flutter Entertainment is set to purchase Tombola.
The buyout will see Flutter pay £403m for the brand and take full ownership of Tombola. Tombola’s engaged customer base was a big selling point for Flutter, with Flutter now able to take advantage of Tombola’s 400,000 monthly users. This acquisition will also allow Flutter to further diversify its portfolio and access a large share in the online bingo market.
“Tombola is a business we have long admired for its product expertise, highly recreational customer base and focus on sustainable play,” Flutter’s chief executive Peter Jackson said. “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 and Ireland division.”
Jackson also paid Tribute to Tombola’s founder and chief executive Phil Cronin:
“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.”
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