As the FTSE100 firm focuses its core operations to expand its global sports betting and igaming units, Flutter Entertainment is actively evaluating options to sell its Oddschecker business.
Sky News announced Friday afternoon that Flutter had hired Moelis & Company, a New York investment firm, to advise on the sale of Oddschecker, the leading odds comparison and bookmaker player referral service in the UK and Australia.
The Stars Group
Following the completion of the firm’s $11 billion merger with The Stars Group Inc (TSG) in 2020, Oddschecker became a Flutter asset.
Industry analysts had predicted that the merger would result in the sale of Oddschecker early on, as an expanded Flutter would concentrate on achieving its goal of becoming the dominant igaming and sports betting operator across all regulated markets.
Following the Flutter-TSG merger, FTSE competitor Entain Plc stopped advertising with Oddschecker services for its UK sportsbook portfolio (which includes Ladbrokes, Coral, and Betdaq).
Optimum value with growth acceleration
Flutter is currently reviewing its group structure, with the company and its corporate governance evaluating the possibility of a separate US listing for its fast-growing FanDuel asset, providing optimum value to investors while accelerating its US market growth profile.
According to Sky News, Oddschecker is priced at £150 million by “city sources,” with Flutter yet to comment on the situation.