Flutter Entertainment will sell its affiliate marketing subsidiary to Bruin Capital for £155m.
UK.- Flutter Entertainment has announced an agreement to sell Oddschecker, its affiliate marketing subsidiary, to private equity group Bruin Capital.
The deal is worth up to £155m, with £135m up-front and a deferred payment of up to £20m depending on undisclosed conditions. The deal is expected to close in the third quarter of the year.
Oddschecker Global Media is best known for the odds comparison platform of the same name, which compares odds between sites like Bet365 and William Hill as well as Flutter’s own brands. Entain (then GVC) removed Ladbrokes and Coral from the platform in July last year.
However, the division also owns the football statistics portal WhoScored.com, which it bought in 2019, and the casino affiliate sites PokerNews and Casino Smash.
Flutter came to own Oddschecker when it acquired The Stars Group last year. It revealed in April that it was considering a sale.
Meanwhile, Flutter has named Amy Howe as chief executive of its US subsidiary FanDuel after Matt King’s decision to leave the brand.
In May, Flutter appointed two new non-executive directors to its board: VICE Media CEO Nancy Dubuc and US corporate finance specialist Holly Koeppel. The appointments were made after the departures of Divyesh “Dave” Gadhia and Peter Rigby.