Flutter buys online firm Tombola in £400 million deal

Flutter buys online firm Tombola in £400 million deal

The gambling giant Flutter, which is the owner of Paddy Power and Betfred, bought the online firm Tombola in a deal worth up to £400 million. Flutter expects the deal to be completed early next year and hopes that the purchase of Tombola will enhance its presence in the online gambling sector in the UK, which in 2020 made up 39.9%% of total gambling revenue.

The Sunderland firm employs more than 700 people and is well known for its sponsorship of the ITV program I’m A Celebrity and Get Me Out of Here.

Peter Jackson the chief executive of Flutter said that they are delighted to add UK’s premier bingo brand to the group and that they’ve had admired the brand for a long time for its products expertise and highly recreational customer base. He later added that Tombola aligns perfectly with Flutter’s safer gambling strategy and its operational capabilities within the UK and Ireland will play a key part in Flutter’s presence in the UK’s online gambling sector.

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