Flutter Entertainment has reached an agreement to sell Oddschecker Global Media to Bruin Capital in a deal that is expected to be finalized in late 2021 and is worth an estimated €180M.
In a short statement, the company revealed that negotiations with sports investment fund Bruin Capital had come to an end with both parties agreeing to an initial cash purchase of €158M with a further deferred contingent payment of up to €23M.
In a press release issued shortly after the announcement, Bruin Capital CEO and founder George Pyne said:
Bruin Capital to Acquire Oddschecker from Flutter in €180M Deal Bruin Capital to Acquire Oddschecker from Flutter in €180M DealSpeaking of the deal, Oddschecker Global Media CEO, Toby Bentall said:
Bruin Capital to Acquire Oddschecker from Flutter in €180M Deal“Looking forward, we have exciting opportunities both in the UK and internationally, especially in the US, where the liberalisation of online gambling legislation has created a highly-attractive market for our business.”
“The sale crystallises value for Flutter Entertainment that has been created in Oddschecker Global Media over the last two decades, and for the first time in nearly 15 years means Oddschecker Global Media will be fully independent of its sports betting partners, allowing it to continue in its ambition to become the world’s best betting experience.”
Bruin Capital to Acquire Oddschecker from Flutter in €180M DealThe announcement follows the recent news that Ladbrokes, Coral, and Betdaq has left the Oddschecker price grid after a breakdown in negotiations relating to a renewal price for their existing deal.
