Flutter Entertainment sells its online betting portal Oddschecker
Flutter Entertainment, the parent company of PokerStars, has gone through many changes in recent years.
Not so long ago, the company merged with the Stars Group, but it became known that they would sell one of their online gambling businesses, namely Oddschecker. Now, the online betting service will belong to Bruin Capital, a well-known private equity company.
Oddschecker was created in the late 90s, and today this service is actively working in the United States and Great Britain. The company processes up to 8 000 lines and updates 260 000 000 coefficients daily.
According to analysts, Oddschecker covers 10% of the total online betting market in the UK. The preliminary transaction amount between Flutter Entertainment and Bruin Capital is $214.3 million.
Firstly, Bruin Capital will pay $186.7 million to acquire Oddschecker. A little later, the company will pay another $27.7 million if Flutter Entertainment fulfils certain terms of the deal, which have not been revealed. The deal should take place in the third quarter of this year.