Oddschecker is being sold by Flutter Entertainment to sports investment fund Bruin Capital. The deal for the odds comparison site is worth £155 million.
A statement from Flutter said that £135 million will be received in cash. The remaining amount will be a “deferred contingent.” The decision by Flutter to sell off Oddschecker is not a surprising one. Flutter have been looking to grow their main global gambling brands. This could also see them putting in a bid for some of the non-US William Hill assets that are currently up for grabs.
Bruin Capital are known for targeting acquisitions with the aim of creating a ‘next-generation investment portfolio.’ Their CEO and founder is George Pyne and the company has plans to ‘globalise Oddschecker’ with focus being made on the US market.
Oddschecker has had great success in the UK. It has established itself as the dominant site in the odds comparison market. Pyne has described Oddschecker Global Media as “a dynamic company with tremendous potential.” His view is that his new purchase has a 21-year legacy that has seen the site servicing over 120 industry clients. The site has operations in not just the UK but the US, Spain and Italy.
He is rather upbeat about his team of employees too. To him his team has “fact-based intelligence and experience with the mindset and needs of bettors at every level.”
Pyne sees “opportunities for continued growth” for Oddschecker, especially in the growing US betting market. He believes this is a good time to seek success for Oddschecker in the US. This is because the “marketplace is very fragmented, and discovery and customer acquisition experts will be highly sought-after.”
The CEO of Oddschecker Global Media is Toby Bentall. He maintained that the sale of the company to Bruin is vital for their future. “Over the last 21 years, Oddschecker Global Media has grown to become the UK’s leading sports betting affiliate, achieved through the hard work of our employees and valuable support from Sky Betting and Gaming and, more recently, Flutter Entertainment,” Bentall said.
He’s looking forward to the challenge and opportunities that lie ahead internationally as well as in the UK. The changes that have taken place in the US with a growing number of states legalizing betting has in his view, “created a highly-attractive market for our business.”
The change of ownership means that Oddschecker will be fully independent of its sports betting partners. Bentall says this will allow them to “continue in its ambition to become the world’s best betting experience.”
