Flutter buys 51% stake in Serbia's MaxBet for €141m

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Sharecast News | 27 Sep, 2023

Updated : 07:07

16:35 23/12/24

  • 20,910.00
  • -0.99%-210.00
  • Max: 21,220.00
  • Min: 20,800.00
  • Volume: 20,627
  • MM 200 : 16,857.53

Gambling company Flutter Entertainment said it had bought a 51% stake in Serbia's MaxBet for €141m (£123m), with an option to acquire the remaining 49% in 2029 based on performance.

MaxBet is the number 2 Serbian operator with an estimated 20% online share. It has more than 400 retail outlets across four markets and 95,000 online average monthly players, Flutter said on Wednesday.

"MaxBet has successfully capitalised on the fast-growing online market in Serbia which grew by 25% on a compound annual basis over the last five years."

Reporting by Frank Prenesti for Sharecast.com

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