September 28 (SeeNews) - Irish-headquartered gambling giant Flutter Entertainment plc (LON: FLTR) has acquired a 51% stake in Serbian betting company Maxbet for 141 million euro ($148 million) as part of its plans to expand in the Balkans.
Flutter also has the option to acquire the remaining 49% in 2029, it added.
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MaxBet will provide Flutter with the platform to access fast-growing markets, such as the regulated Serbian market, Flutter said in a statement on Wednesday.
The deal is subject to regulatory approval. Flutter hopes to close the acquisition in the first quarter of 2024.
MaxBet was established in 1997 and operates in Serbia, Montenegro, Bosnia’s Serb Republic and North Macedonia.
$ = 0.9530 euro