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Flutter completes Tombola transaction
Flutter entertainment, a sports betting, gaming and entertainment provider, announces the finalization of Tombola acquisition.
The acquisition cost £402 million and has been completed according to the required regulations. Flutter entertainment paid for the trade from its existing fund and loan facilities.
As the company states, the last addition of its suite provided some essential strategic advantages. According to the supplier, Tombola tends to establish a maintainable player base by the amplification of safer wagering strategy by Flutter Entertainment.
The CEO of Flutter Entertainment, Peter Jackson, commented:
“We highly appreciate the product expertise of the Tombola, and we are happy to join forces with it. Its ambitions and Flutter’s strategy plan match perfectly”.
“As it’s the high time to hand over the reins of the business, I need to pay tribute to Phil for building up this tremendous business of Tombola. I can’t wait to hail its team to Flutter and build our future together”.
Over and above that, in 2021 Flutter managed to acquire Sisal, an Italian-based gaming operator, which cost £1.62 billion.
The deal is to be accomplished by the Q2 of 2022 by in-cash and full payment.