Flutter Entertainment has successfully completed its majority acquisition of MaxBet, a Serbian gambling operator. The acquisition, which was first announced in September 2023, involved Flutter paying €141 million to acquire a 51% stake in the Balkans-oriented company.
This move will allow Flutter Entertainment to expand its global footprint and strengthen its presence in Eastern Europe. The company expressed excitement about the deal, describing it as the beginning of a “new era of excitement.” MaxBet was lauded as a beloved gaming brand from Serbia with a strong presence in multiple Balkan countries, including Serbia, Montenegro, North Macedonia, and Bosnia and Herzegovina.
Daniel Taylor, the CEO of Flutter Entertainment, shared his enthusiasm for the partnership, praising MaxBet as a perfect partner due to its dedicated team and passionate fanbase. He highlighted MaxBet’s strong retail footprint and loyal customer base, stating that the company’s expertise will be invaluable for Flutter’s expansion plans in the region.
The coming together of Flutter and MaxBet is expected to elevate the player experience to new heights by combining MaxBet’s local market expertise with Flutter’s advanced technology and products.
Investor optimism about Flutter’s future prospects has been evident in the recent growth of the company’s shares. Peel Hunt upgraded the company’s stock from hold to buy, citing the operator’s promising prospects and encouraging investors to have confidence in the gambling firm.
In addition to these developments, Flutter Entertainment is preparing to delist from the Dublin Stock Exchange and dual-list on the New York Stock Exchange while maintaining its listing on the London Stock Exchange. These strategic moves indicate the company’s commitment to expanding its global reach and solidifying its position in the industry.