Flutter Entertainment wraps up acquisition of Tombola gaming site

Flutter Entertainment has completed the acquisition of Tombola, according to a company announcement. This is the gaming operator's second major acquisition in the same number of months.

The global gaming operator has detailed its goals following the merger. It highlighted that Tombola, an online bingo site, would deliver key strategic benefits as part of its larger portfolio of brands, particularly in diversifying its products.

The acquisition was officially announced last November. Tombola, with its staff mainly located in Sunderland or Gibraltar, is a bingo-led gaming company with an emphasis on providing low-stake bingo options.

Flutter noted that Tombola would help to create a more engaged, sustainable player base while also aligning with the company's safer gambling policies.

After Flutter met all regulatory requirements, the firm paid £402 million ($547 million) in total for the site.

Peter Jackson, Flutter's CEO, had previously commented about the development, "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."

This acquisition comes on the heels of Flutter's purchase of Sisal at the end of last year. Flutter paid €1.9 billion ($2.15 billion) to acquire the Italian gambling company from its former owner, US private equity firm CVC Holdings.

Flutter's M&A strategy outlines a goal to strengthen its omnichannel offering and secure Sisal ownership. The group also wants to be more present in the Italian market.

Flutter's Sisal acquisition brings with it a host of entities, including Totip, the lottery operator SuperEnalotto, and sportsbook Totalcalcio. Flutter will soon have all the assets of Sisal, which includes an estimated 300,000.

Jackson previously said of the acquisition, "Sisal has grown its online presence significantly in recent years, aided by its proprietary platform and commitment to innovation. I'm excited to see how Flutter can complement these capabilities through our scale, differentiated products and operational capabilities."

Flutter continues to expand its online gambling presence. Under Flutter's ownership are Paddy Power, Betfair, PokerStars, Sky Bet, Sportsbet, FOX Bet, FanDuel, TVG and Adjarabet.

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