Flutter completes €141m investment in MaxBet

Flutter Entertainment has completed its €141m investment in MaxBet Kladionica to become the market leader in Serbia and advance its position within Balkan territories.

The deal to acquire a 51% stake in Maxbet was first announced in September 2023, with Flutter securing exclusive rights to acquire the remaining share of the Serbian business.

Branded a ‘local hero’ by Flutter, MaxBet operates 400 betting points in the markets of Serbia, Montenegro, Macedonia, and Bosnia Herzegovina with an estimated 20% online share in Serbia, and 95,000 online average monthly players.

MaxBet will be managed by the Flutter International unit, joining the portfolio of PokerStars, Adjarabet, Sisal, Junglee, and Betfair (non-UK).

Moving forward, MaxBet’s platform and operating systems will be optimised by the Flutter Edge programme to improve its omnichannel and scale capabilities for Balkan audiences.

“MaxBet is a household name in the Balkans, and we’re incredibly proud to have them join our team,” said Daniel Taylor, CEO of Flutter International.

“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.”