International iGaming and entertainment provider Flutter Entertainemnt has just recently acquired Tombola, one of the biggest online bingo operators in the UK, for £420 million.
With teams strategically located in Gibraltar and Sunderland, Tombola is recognized as a successful bingo-led igaming company that focuses on providing low-stake bingo propositions to a highly engaged customer base. Tombola was also the first major UK-based operator that introduced mandatory staking and deposit limits. This led to the increase of a highly sustainable player base in the last 16 years.
Under the deal, Flutter will pay £420 million in cash for 100% of the business upon completion. The deal is conditional on merger control clearance by the UK Competition and Markets Authority and is expected to be finalized by the first quarter of 2022.
“As the world’s leading online gambling operator, Flutter is delighted to add Tombola, the UK’s premier bingo brand to the Group. Tombola is a business we have long admired for its product expertise, highly recreational customer base and focus on sustainable play,” Peter Jackson, Flutter Chief Executive, 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 experience with Tombola’s operational capabilities within the UK and 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,” he added.