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Flutter Acquires Majority Stake of MaxBet for €141 Million

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The world’s largest online betting company, Flutter, has secured a majority ownership in MaxBet, a leading entity in the realms of sports betting and gambling in Serbia. 

Flutter has purchased 51% of MaxBet for a significant €141 million, marking the commencement of its expansion strategy in the Balkan region. 

“This synergy will contribute to new successes and a revolutionary development of the company,” MaxBet announced in a statement. 

Flutter emphasises the attractiveness of Serbia’s betting market, valued at €700 million, citing the relatively low online penetration of around 35% and an anticipated annual online growth of approximately 15% by 2025. 

MaxBet, which reported revenues of €145 million in the calendar year up to July, with 44% stemming from online sources, also operates in Bosnia and Herzegovina, Montenegro, and North Macedonia. 

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“We believe MaxBet represents an excellent opportunity to replicate the success we’ve experienced in markets such as Georgia, India, and Italy,” stated Flutter’s Chief Executive Officer, Peter Jackson. 

Generating 78% of its revenue from its main headquarters in the USA, Australia, the UK, and Ireland, Flutter operates in over 100 countries worldwide.

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