Flutter buys 51% stake in Serbia's MaxBet for €141m
By Frank Prenesti
Date: Wednesday 27 Sep 2023
(Sharecast News) - 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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