Flutter Entertainment will acquire UK-based online bingo operator Tombola for £402 million.

According to the press release, key features of the deal include:

Fully regulated revenue base with over 80% coming from the UK and 16% from Italy and Spain
A market leading bingo proposition with a vibrant player community acting as brand advocates
Revenue CAGR of 23% over the last 5 years
Circa 400,000 average monthly players (AMPs) with over 700 employees
The deal will see Flutter pay the full consideration in cash upon completion, taking charge of Tombola outright.

Flutter explained the addition of Tombola to its portfolio would deliver a number of key strategic advantages, including expanding its position in a product vertical in which it had historically been weaker.

Read more here: https://www.gpwa.org/article/flutter...tombola-241981