UK.- January 12, 2022 www.zonadeazar.com [1] Flutter Entertainment announced that it has finalised the acquisition of online bingo brand Tombola for £402 million after completing all regulatory requirements.
In a statement the gambling giant said: “Flutter is pleased to announce that it has received all necessary regulatory confirmations with respect to the acquisition of Tombola. With these confirmations now in place, the group completed the acquisition in cash, fully funded through the group’s current cash and debt facilities.”
The gambling firm is on a mission of expansion after also confirming in late December that it had agreed to buy Italian gaming company Sisal for £1.62 billion, that deal is still going through but shows the companies ambition to expand even further.
Flutter Chief Peter Jackson said on the Tombola deal at the time: “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.”
On Sisal which was owned by CVC Capital Partners is also in the race to win the UK Lottery license and has businesses in Morocco and Turkey along with its major presence in Italy.
Peter Jackson, said of that deal: “I am delighted to add Sisal, Italy’s leading gaming brand, to the Group as we look to attain a gold medal position in the Italian market. For some time we have wanted to pursue this market opportunity via an omni-channel strategy and this acquisition will ideally position us to do so. Sisal has grown its online presence significantly in recent years, aided by its proprietary platform and commitment to innovation. I’m excited to see how Flutter can complement these capabilities through our scale, differentiated products and operational capabilities. We look forward to welcoming Francesco and the rest of the Sisal team to Flutter in 2022.”
Edited by: @_fonta [2] www.zonadeazar.com [3]