One of the largest gambling companies in the UK, Flutter Entertainment Plc has revealed that it has agreed to dispose of its Oddschecker Global Media affiliate marketing subsidiary to Bruin Capital. The announced price of the deal was £155 million.
The British gambling giant that owns brands such as Paddy Power and Betfair issued a statement to share that it has secured terms to receive a total of £135 million in cash from the sports investment fund. The company also explained that it reached an agreement with Bruin Capital food a further £20 million in deterred contingent.
Industry analysts had long expected the sale of the affiliate marketing arm because Flutter Entertainment has preferred to concentrate its business strategy on developing the growth of its most important gambling brands.
Bruin Capital is a private investment group that is actively seeking new purchases to establish a next-generation investment portfolio consisting of some sports media, entertainment and technology service options. The company is led by George Pyne, an ex-NASCAR executive and IMG President. Previously, Bruit Capital has shared its plans to globalise the Oddschecker affiliate marketing unit in a way that would make the business particularly focused on the US gambling sector and establish a market dominance there.
Bruin Capital to Acquire the Affiliate Marketing Arm to Seek Global Expansion in Sports Betting
At the time when Mr Pyne issued a statement, he described Oddschecker Global Media as a dynamic operator with great potential. He further noted that the company’s team has deep, fact-based intelligence and is experienced when it comes to the needs and mindset of gamblers at every level.
Bruin Capital’s boss shared that his company has seen opportunities for continued growth, particularly when it comes to the sports betting market in the US. According to him, there were strong links between the UK development of Oddschecker and the company’s opportunities for further growth in the US, where the sports betting sector is still very fragmented, considering the fact that not all US states have legalised the new form of gambling.
Bruin Capital has described its new asset as the leading consumer portal of the betting market and said that Oddschecker features a proprietary platform that has offered thorough reviews and odds comparisons to more than 100 bookmakers covering more than 1,000 sporting events. As shared by the company’s owner, Oddscheker has a legacy of 21 years of experience in providing players with relevant bookmaker information and servicing with operations in the UK, US, Spain and Italy.
The new ownership was welcomed by the CEO of Oddschecker Global Media, Toby Bentall, who said it was extremely important for the next stage in the company’s global expansion. Mr Bentall shared that over the last 21 years, the affiliate marketing company has grown into the leading sports betting affiliate in the UK, first thanks to the valuable support of Sky Betting and Gaming and then, of Flutter Entertainment. Now, the company is looking forward to exploring the opportunities not only in the UK, but also on a global scale, and especially in the US, where the US Supreme Court has only recently paved the way to legal online gambling services.
- Author
Olivia Cole
