Dublin-based iGaming behemoth Flutter Entertainment has agreed to sell its subsidiary affiliate marketing leader Oddschecker, to investment company Bruin Capital in a deal due to be worth up to £155 million (€181.4 million), it has announced.
The acquisition, which is expected to be closed in Q3 of this year, will consist of a £135 million (€157.95 million) payment, followed by a further payment of up to £20 million (€23.40 million), depending on undisclosed conditions.
Flutter first acquired the brand through its merger with the Stars Group in 2020, and revealed intentions to sell Oddschecker in April.
The flagship of Oddschecker Global Media takes the form of the Oddschecker odds comparison platform, which allows bettors to compare the odds and offerings of leading sites, such as PokerStars Casino, Betfair, and 888Casino.
Group brands also include statistics portal WhoScored.com, and affiliate casino sites PokerNews and Casino Smash.
Led by a former NASCAR executive IMG President George Pyne, Bruin is a sports-focused investment group, targeting acquisitions with the aim of building a ‘next-generation’ investment portfolio.
The company will aim to expand Oddschecker globally, especially seeking to replicate the success of the UK-covering platform to the US market.
“Oddschecker Global Media is a dynamic company with tremendous potential”, said Mr Pyne.
“The team has deep, fact-based intelligence and experience with the mindset and needs of bettors at every level.
“We see opportunities for continued growth, and particularly in America. There are strong links between Oddschecker’s UK development and its opportunity in the US, where the marketplace is very fragmented, and discovery and customer acquisition experts will be highly sought-after”.
On the part of Oddschecker Global Media, CEO Toby Bengal welcomed the acquisition, as a vital step in the company’s global expansion.
“Over the last 21 years, Oddschecker Global Media has grown to become the UK’s leading sports betting affiliate, achieved through the hard work of our employees and valuable support from Sky Betting and gaming and, more recently, Flutter Entertainment.
“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 high-attractive market for our business”.
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