Flutter Entertainment Acquires Tombola, UK’s Leading Online Bingo Operator

Flutter Entertainment has acquired Tombola, a leading UK online bingo operator, for an enterprise value of £402m. Tombola is a successful bingo-led gaming company with an emphasis on providing a low staking bingo proposition to a highly engaged customer base. Tombola was the first major UK focused operator to introduce both mandatory staking and deposit limits, building a highly sustainable player base over the last 16 years.

Tombola has a fully regulated revenue base with over 80% coming from the UK and 16% from Italy and Spain. The company has a market leading bingo proposition with a vibrant player community acting as brand advocates. Tombola has a revenue CAGR of 23% over the last 5 years and has circa 400,000 average monthly players (AMPs) with over 700 employees.

In its financial year to end April 2021 Tombola generated pro forma revenue of £164m and EBITDA of £38.5m. Flutter will pay £402m in cash upon completion for 100% of the business. The transaction is conditional on merger control clearance by the UK Competition and Markets Authority and is expected to complete in Q1 2022. Peter Jackson, Flutter Chief Executive, commented: “As the world’s leading online gambling operator, Flutter is delighted to add Tombola, the UK’s premier bingo brand to the Group. Tombola is a business we have long admired for its product expertise, highly recreational customer base and focus on sustainable play. The brand aligns closely with Flutter’s safer gambling strategy, a key area of focus for us. I am excited to combine Flutter’s digital marketing expertise with Tombola’s operational capabilities within the UK & Ireland division.”