Oddschecker Sold For $215 Million
Flutter Entertainment, the gambling giant, has reportedly reached an agreement with Bruin Capital. The deal between the two will see the ownership of Oddschecker, a sports data and comparison site, change hands for the fourth time since its 1999 inception. If the deal goes through, it will be valued at a whopping $215 million.
This deal was announced by Bruin Capital in a press release on Monday. This will mark the first gambling-related investment for the firm, which is primarily focused on sports and private equity. The Founder and CEO of Bruin Capital is George Pyne, the former NASCAR Executive and IMG President.
International Expansion Plans
In Monday’s press release, Pyne shared what the company’s plans for Oddschecker are once Bruin’s takeover is officially complete. He said that at present, most of the brand’s success has been based within the UK market. However, he plans to globalise Oddschecker and will place a particular focus on the US.
Pyne said that his firm has seen plenty of opportunity for the continued growth of Oddschecker, particularly within America. He added that there are strong links between the development that Oddschecker has made in the UK and the opportunities that exist for it within the US.
A Dynamic Company
Bruin Capital has praised Oddschecker for the reputation that it has managed to maintain across its wide-reaching client base that expands to several counties. The firm also added that Oddschecker Global Media is a dynamic company that possesses a tremendous amount of potential. Furthermore, Oddschecker’s team has amassed a wealth of experience and is able to meet the varied needs of bettors at every level.
According to the stipulations of the agreement, Bruin Capital will pay Flutter a total of $187.3 million once the sale in completed. Thereafter, Flutter will be given an additional $27.8 million as contingent considerations. It is expected that this deal will be closed by the end of the third quarter of this year.
Toby Bentall, the CEO of Oddschecker, said that his firm is looking forward to taking up all of the exciting opportunities that lie ahead of it, both internationally and in the UK. Mr Bentall added that the sale of the firm will afford the company the chance to capitalise on all of the progress that has been made by Flutter in order to provide the best betting experience in the world.