Tombola in a 'Flutter' Over £402m Acquisition Deal

Tombola in a 'Flutter' Over £402m Acquisition Deal

Hot Off the Bingo Press!

Tombola, Britain’s biggest bingo site is set to get new owners after being snapped up by Flutter Entertainment, the owner of Paddy Power and Betfair. The deal is said to be worth £402million in cash and will result in bingo site founder Phil Cronin, who set the company up 16-years ago, leaving his position. The deal will be complete in Q1 of 2022. Flutter Entertainment revealed in a press statement that it had “long admired” the online bingo operator and now they have it all to themselves!

What Does This Mean for Tombola?

With headquarters in Sunderland and Gibraltar, Tombola has more than 700 employees and on average 400,000 monthly users. Successful television ad campaigns, a hands-on approach to responsible gambling and sponsoring the UK’s most popular reality television show – I’m A Celebrity Get Me Out of Here, has landed Tombola a place in the nation’s hearts, all while earning profits of £38.5m in the year to April 30 on revenues of £164m.

Peter Jackson, chief executive of Flutter, said: 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. 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.”

Tombola was the very first online bingo site in the UK to introduce mandatory staking and deposit limits. They also encourage players to set their own responsible gambling limits by offering all players a bingo bonus for doings so. Plus, there are tools to reduce the time you spend playing, game restrictions and a new MyPlay tool for a snapshot of ‘your gameplay.’

What makes them so unique is all of their games are exclusive…

…and cannot be found anywhere else. Bingo sites falling under the Flutter umbrella are basically a mirror image with identical games, promotions and offers. We can only pray they don’t start changing things.

No wagering requirements on bonuses come as standard with all real money prizes. Fill your rollercoaster cart in the first 6 calls to win a jackpot, watch as the pirates, circus staff and ‘who dunnit’ characters line-up to dish out big prizes and log in each day to play the free game to win a share of £40K in cash!

What do you make of the latest news? Let us know your thoughts below.

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Source: “Flutter Snaps Up Online Bingo Group Tombola in £402m Deal”. Express & Star. November 18, 2021.

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