- Casino
- Bitcoin Casinos
- Blacklist
- Real Money Casinos
- Reviews
- Strategy Guides
- Sweepstakes Casinos
- US Online Casinos
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Slots
- Free Slots
- 88 Fortune Frenzy
- A Christmas Carol
- Bandits and Bounties
- El Mariachi
- Fire & Steel
- Gifts from Santa
- It Came from Venus
- Legend of Azteca
- Legend of Horus
- Love Beach
- Mafia Family
- Ogre Empire
- Once Upon a Time
- Project Space
- Riches in the Rough
- Sheriff vs Bandits
- Take the Kingdom
- The Curious Machine
- The Defenders
- The Wild Show
- Viking Voyage
- Wilds of Fortune
- Ancient Slots
- Animal Slots
- Asian Slots
- 15 Dragon Pearls
- Buddha Fortune Hold and Win
- Cai Hong
- Dragon & Phoenix
- Dragon Kings
- Empire of Riches
- Journey to the West
- Lucky Macau
- Make You Rich
- Moon Sisters Hold and Win
- Mr. Macau
- Mythical Creatures
- Oriental Flower
- Prosperous Bloom
- Storm Lords
- Super Rich God Hold and Win
- Thai Blossoms
- Twin Dragons
- Classic Slots
- Food Slots
- Gold Slots
- Horror Slots
- Jungle Slots
- Magic Slots
- Sports Slots
- Slot Developers
- Free Slots
- Poker
- Sports
- Esports
Flutter Strengthens Bingo Portfolio with Tombola Acquisition
Flutter Entertainment is set to pay $542.90 million to acquire Tombola, a bingo gaming company that has been generating robust financial results over the past years. The owner of Paddy Power, Betfair, and FanDuel revealed the acquisition on Thursday, looking to secure another high-value asset to its portfolio.
Flutter Acquires Bingo Company Tombola
Flutter is confident that the acquisition of the bingo arm will help it shore up its own portfolio while diversifying its products and expanding its position in a vertical that it has traditionally not been too involved in. The company is cognizant of the market potential and the substantial player base that participates in bingo.
Flutter will be able to tap into the vast bingo market in the United Kingdom, which is home to its operations, as well as boost its product capabilities and expertise. Flutter is further motivated by the way Tombola operates its business, offering several safety checks designed to protect consumers.
Those include mandatory staking and deposit limits which means that all consumers who use Tombola’s platform to play bingo are well-protected. Tombola managed to amass a proforma revenue of $221.30 million for its FY21, Flutter noted, and the company posted an EBITDA of $51.95 million.
Aligned with Flutter’s Responsible Gambling Goals
Flutter Entertainment chief executive Peter Jackson has welcomed the move and argued that Tombola is one of the best choices for the company to scale up its presence in online gaming:
“As the world’s leading online gambling operator, Flutter is delighted to add Tombola, the UK’s premier bingo brand to the Group. Tombola is a business we have long admired for its product expertise, highly recreational customer base, and focus on sustainable play.”
Flutter Entertainment chief executive Peter Jackson
Jackson praised Tombola’s own focus on responsible gambling, which remains a top priority for his company. That and the fact Tombola has significant operational capabilities in Ireland and the United Kingdom add tremendous value to Flutter’s offer.
Related Topics:
Luke is a media graduate who is looking to build upon his experiences from his strong love of sports betting and casino games which started during his first year of college. His fresh mindset always brings new content ideas to the team and his editorial skills will continue to grow with the help of the upper management team at GamblingNews.com.
Previous Article
Must Read