Online Bingo Operator Tombola sold for £400 million
Written by, Toni Maglovski
Updated November, 18, 2021
The gambling giant Flutter, which owns Paddy Power and Betfred, sealed a £400m deal with the Sunderland firm, saying it will boost and improve the company’s presence in the online gambling sector in the UK.
The famous bookies owner stated that he expects this deal to be finalised by the beginning of 2022, all of which depend on other authorities’ consent.
The Sunderland firm employs over 700 people, and it’s primarily known for its sponsorship of the famous ITV programme I’m A Celebrity, Get Me Out of Here.
Tombola has about 400 thousand bingo and slot machine players and moved its’ headquarters to Sunderland not that long ago.
According to their financial stats, the company made a whopping £120.1m of revenue and an operating profit of £12m.
The chief executive of Flutter Entertainment stated that they admired the work and product expertise of Tombola for so long, and now this deal will boost the company’s online gambling presence. In addition, this deal will make room for them to stand next to renowned bingo sites, as well as new bingo sites such as PlayOjo Bingo and Heart Bingo.
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