Flutter Entertainment has successfully completed its acquisition of a 51% majority stake in MaxBet, a well-established gambling operator based in Serbia. The deal, which was initially announced in September 2023, saw Flutter pay a hefty €141 million for the majority ownership of the Balkans-focused company.
The acquisition has now been finalized, positioning Flutter to bolster its presence in Eastern Europe and expand its global reach. In a statement on LinkedIn, Flutter described the deal as the start of an “exciting new era”, praising MaxBet as a beloved gaming brand with a strong foothold in multiple Balkan countries, including Serbia, Montenegro, North Macedonia, and Bosnia and Herzegovina.
Daniel Taylor, CEO of Flutter Entertainment, expressed his enthusiasm over the partnership, emphasizing MaxBet’s status as a household name in the Balkans. He highlighted the Serbian operator’s resilient customer base and dedicated team, deeming MaxBet an ideal partner for Flutter’s expansion plans in the region.
The integration of MaxBet into the Flutter fold is expected to elevate the player experience to new heights, with the two companies leveraging MaxBet’s local market expertise and Flutter’s advanced technology and products. Additionally, Flutter’s recent share price growth has fueled optimism among investors, leading research firm Peel Hunt to upgrade the operator’s stock from hold to buy.
In further developments, Flutter is preparing to delist from the Dublin Stock Exchange as it gears up for a dual-listing on the New York Stock Exchange, while maintaining its listing on the London Stock Exchange. These strategic maneuvers aim to position Flutter for sustained growth and success in the global gambling market.