Flutter purchases majority shares of MaxBet for €141m
This latest acquisition will greatly expand Flutter’s international presence, giving it access to the growing Serbian gambling market in both the online and land-based verticals. This will also help the firm enhance its presence in the Balkans, which offers an expanded set of growth opportunities.
Having garnered a market share of around 20% in Serbia, MaxBet is one of the country’s top gambling operators. The firm provides gambling experiences to local gambling enthusiasts through more than 400 land-based establishments and a website, the latter of which has an average of 95 thousand active monthly players.
MaxBet also features an expansive and highly skilled team of more than 2400 employees, expanding Flutter’s workforce and combined expertise. This will allow the firm to continue growing in MaxBet’s operating market, furthering its international reach.
This purchase is estimated to be finalized in the first quarter of next year, following the acquisition of all appropriate regulatory approvals. Moreover, the agreement will give Flutter the opportunity to purchase the remaining shares of MaxBet in 2029 with similar terms to the current acquisition, providing the latter exceeds its projected financial performance this year.