Flutter Entertainment is actively reviewing options to sell its Oddschecker business, as the FTSE100 firm focuses its core operations to strengthen its global sports betting and igaming units
This afternoon, Sky News reported that Flutter had recruited New York investment bank Moelis & Company to advise on the sale of Oddschecker – recognised as UK and Australian betting markets’ leading odds comparison and bookmaker player referral service.
Oddschecker became a Flutter asset in 2020, following the firm’s completion of its $11 billion merger with The Stars Group Inc (TSG).
Industry observers had previously outlined the potential sale of Oddschecker as an early outcome of the merger, as an enlarged Flutter would focus on delivering its mandate of becoming the dominant igaming and sports betting operator across all regulated markets.
The Flutter-TSG merger saw FTSE rival Entain Plc withdraw its UK sportsbook portfolio (which includes Ladbrokes, Coral and Betdaq) from advertising with Oddschecker services.
At present, Flutter is reported to be reviewing its group structure, in which the company and its corporate governance is assessing a potential separate US listing for its fast-growing FanDuel asset – delivering optimal value for investors, whilst accelerating its US market growth profile.
Sky News quoted that ‘city sources’ valued Oddschecker at £150 million, with Flutter yet to comment on developments.