Betting group Flutter Entertainment has announced that they've completed their purchase of bingo group Tombola, having paid £402 million in cash.
The purchase agreement had only been announced in November of last year and was quickly wrapped up, gaining regulatory approval. This pickup will keep Flutter strong in the bingo vertical, as Tombola has 400,000 players every month between the UK, Spain, and Italy. The company will also be expanding into the Netherlands in the near future.
Flutter is one of the largest online betting operating groups in the world, with the company overseeing the PaddyPower, Betfair, FanDuel, and PokerStars brands (among others).
Commenting on the deal's finalisation Flutter CEO Peter Jackson said, "Tombola is a business we have long admired for its product expertise, highly recreational customer base and focus on sustainable play. I am excited to combine Flutter's digital marketing expertise with Tombola's operational capabilities within the UK and Ireland division."