Flutter buys online bingo operator Tombola for £402 mln
Flutter Entertainment is pleased to announce the acquisition of Tombola, one of the UK market’s leading online bingo operators, for an enterprise value of £402m.
Tombola, with teams primarily located in Sunderland and Gibraltar, is a successful bingo-led gaming company with an emphasis on providing a low staking bingo proposition to a highly engaged customer base. Tombola 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.
Peter Jackson, Flutter Chief Executive, commented:”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. 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.”