Flutter Completes Majority Acquisition Deal with MaxBet

Gambling giant Flutter Entertainment announced that it has completed its majority acquisition of MaxBet, a Serbian gambling operator. The move was officially announced in September 2023, with Flutter agreeing to pay €141 million (roughly $153 million, current rates) to acquire a majority stake in the Balkans-oriented company.

The deal has now been closed, putting Flutter in possession of 51% of MaxBet. This development will allow the global sports betting, gaming and entertainment provider to expand its global footprint and solidify its presence in Eastern Europe.

On LinkedIn, Flutter described the deal as the beginning of a “new era of excitement.” The global gaming company lauded MaxBet as a “beloved gaming brand from Serbia” and praised its strong presence in multiple Balkan countries, including Serbia, Montenegro, North Macedonia and Bosnia and Herzegovina.

Flutter concluded that MaxBet will bring a “wealth of expertise and experience to the Flutter fold.”

Flutter Is Very Optimistic about the Arrangement

Daniel Taylor, Flutter Entertainment’s chief executive officer, shared his thoughts on the new deal, expressing his excitement about the majority stake in MaxBet. He described the Serbian operator as a perfect partner to Flutter because of its dedicated team and fervent fanbase.

MaxBet is a household name in the Balkans, and we’re incredibly proud to have them join our team. Their strong retail footprint, loyal customer base, and passionate team make them an ideal partner for our expansion plans in the region.

Daniel Taylor, CEO, Flutter Entertainment

Flutter concluded that the coming together of Flutter and MaxBet will enable the companies to “take the player experience to new heights.” To that end, the two operators’ teams will pair MaxBet’s local market expertise with Flutter’s cutting-edge technology and products.

In the meantime, Flutter’s shares recently experienced some growth, sparking investor optimism about the future of the company’s business. Updating the company’s stock from hold to buy, Peel Hunt highlighted the operator’s prospects, incentivizing investors to trust the gambling firm.

Flutter is set to delist from the Dublin Stock Exchange as it prepares to dual-list on the New York Stock exchange. The company will keep its London Stock Exchange listing.