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Flutter to Enter Serbian Market with Acquisition of MaxBet

Deal sees Flutter acquire 51% of company

Flutter to Enter Serbian Market with Acquisition of MaxBet - Thursday, September 28th, 2023 8:19
Takeover/merger deal

Flutter Entertainment has announced that it has acquired a 51% stake in Serbian sports betting and gaming operator MaxBet.

The deal will see Flutter pay €141 million (£123 million/$148.2 million) for a majority stake and includes an option to buy the remaining 49% in 2029.

Flutter to Enter Serbian Market with Acquisition of MaxBet

During LTM to June 2023, the business generated pro forma fully regulated revenue of €145 million (£125.3 million/$152.4 million) of which 44% is online. Adjusted EBITDA for the period was €32 million (£27.6 million/$32.6 million).

Flutter to Enter Serbian Market with Acquisition of MaxBet Flutter to Enter Serbian Market with Acquisition of MaxBet Flutter to Enter Serbian Market with Acquisition of MaxBet Flutter to Enter Serbian Market with Acquisition of MaxBet
Thomas Nielsen
Flutter to Enter Serbian Market with Acquisition of MaxBet