Flutter Entertainment has completed the €141m deal to acquire 51% of Serbian operator MaxBet as announced in September 2023.

MaxBet will provide Flutter with the platform to access fast-growing markets via a strong podium brand. This also creates an opportunity to accelerate growth and deliver a gold medal position for Flutter through expansion in the Balkans region by leveraging the benefits of the Flutter Edge.

Serbia is an attractive, regulated market (2022: €700m) with relatively low online penetration of circa 35% and expected online compound annual growth to 2025 of approximately 15%.

Peter Jackson, Flutter Chief Executive, commented:”I am excited to announce the addition of MaxBet to the Flutter portfolio. This acquisition continues our progress against the strategic priorities we have set for our International division; to buy and build podium positions in regulated markets.