Flutter Entertainment has completed a €141 million investment in MaxBet Kladionica, focused on establishing leadership in Serbia and strengthening its position in the Balkans.
The deal, covering a 51% stake in MaxBet, was officially announced in September 2023, giving Flutter exclusive rights to subsequently acquire the remaining shares in the Serbian business.
Recognized as a “local hero” by Flutter, MaxBet operates 400 betting points in Serbia, Montenegro, Macedonia and Bosnia and Herzegovina. With approximately 20% share of online gaming in Serbia, it attracts an average of 95,000 online players monthly.
MaxBet will be part of Flutter International, joining the company’s portfolio that already includes PokerStars, Adjarabet, Sisal, Junglee and Betfair (outside the UK).
In the future, the MaxBet platform and operating systems will be optimized as part of the Flutter Edge program, aimed at improving omnichannel capabilities and scaling for audiences in the Balkans.
Daniel Taylor, CEO of Flutter International, commented: “MaxBet is a household name in the Balkans, and we’re incredibly proud to have them join our team. Their strong retail footprint, loyal customer base, and passionate team make them an ideal partner for our expansion plans in the region. Together, we’re poised to take the player experience to new heights. By combining MaxBet’s local market knowledge with Flutter Edge’s cutting-edge technology and products, we’ll deliver an unrivalled gaming experience to our customers across the Balkans.”
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