Sunderland’s Tombola bought by Flutter for £402m

Flutter Entertainment plc — the Dublin-based owner of Paddy Power, Betfair and Fanduel — has acquired Sunderland-based Tombola, one of the UK’s leading online bingo operators, for an enterprise value of £402 million in cash.

Flutter said that Tombola, with teams primarily located in Sunderland and Gibraltar, is “a successful bingo-led gaming company with an emphasis on providing a low staking bingo proposition to a highly engaged customer base.”

It said Tombola was the first major UK focused operator to introduce “both mandatory staking and deposit limits, building a highly sustainable player base over the last 16 years.”

Flutter said that in its financial year to end of April, 2021, Tombola generated pro forma revenue of £164 million and EBITDA of £38.5 million.

Flutter CEO Peter Jackson said: “As the world’s leading online gambling operator, Flutter is delighted to add Tombola, the UK’s premier bingo brand to the group.

“Tombola is a business we have long admired for its product expertise, highly recreational customer base and focus on sustainable play.

“The brand aligns closely with Flutter’s safer gambling strategy, a key area of focus for us.

“I am excited to combine Flutter’s digital marketing expertise with Tombola’s operational capabilities within the UK & Ireland division.

“As the time comes for Phil to hand over the reins, I would like to thank him for building the success story that the business is today, and I look forward to welcoming the Tombola team to Flutter and growing a sustainable business for the future together.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.