Flutter Entertainment to Acquire Tombola
Date Added: 23rd November 2021
The online gaming industry is never short of surprises. One of the most startling has been Flutter Entertainment's sudden acquisition of tombola, the United Kingdom's most successful online bingo platform. While Flutter's lucrative expansion is easily understood, many devoted Tombola players may be wondering what the future holds for them.
✨ Outright Bid
The acquisition is worth an incredible £402 million. The funds are being paid as an outright cash transaction, providing Flutter with ultimate control of the site. It demonstrates the company's determination to progress in online bingo. “tombola is a business we have long admired," explained Flutter's enthusiastic CEO, Mr. Peter Jackson.
No wonder he is excited by the acquisition. When the financial year for 2019-20 drew to a close in April 2020, tombola had made a net profit of £9.4 million. The company's revenue was £120 million. But it's tombola's reliable history of steady expansion while delivering a high-quality product that has undoubtedly impressed Flutter.
✨ Success of tombola
tombola's route to online bingo success began in industrial Sunderland in 2006. The company's founder, Mr. Phil Cronin, has long been connected with bingo. His father's printing works regularly supplied paper score cards to bingo halls across the UK from the early 1950s. The attraction of bingo as an inexpensive, fun-to-play game has readily transferred to the online market.
Even the all-important social aspect of the game has been accommodated. Online players still enjoy the companionship of their bingo friends through interactive, live chat facilities. Mr. Jackson applauded Phil Cronin for recognising the time had come for him "to hand over the reins." Peter Jackson went on to say that he'd "like to thank him for building the success story that the business is today."
✨ tombola's Expansion
From its Sunderland headquarters, tombola has steadily created an international network operated by around 700 employees. Online players in Italy and Spain have been enjoying tombola's innovative range of bingo games since 2012. As recently as September 2021, the company successfully obtained one of only a few licences awarded by the gaming regulators in Holland.
On average, tombola welcomes 100,000 bingo players to its platform every week. An estimated 80% of its revenue comes from UK bingo fans. Many of these players have regularly visited tombola since the site launched. They have helped the company achieve numerous awards over the years.
tombola has frequently been voted the Most Popular Online Bingo Site, Online Bingo Operator of the Year, and the Best Chat Host Team. One of the most important aspects of tombola's success is clearly the special rapport it has established with its players. But how might Flutter's acquisition affect players' enjoyment of their favourite bingo haunt?
✨ tombola's Attractions
tombola is the largest, most successful bingo platform in the UK. The site concentrates on entertaining bingo games from 30 to 90-ball classics. Marking off fifteen numbers per score card has evidently created one of the most loyal followings of any online gaming site. Players love the uniqueness, familiarity, stability, and affordability of tombola. Whenever they visit, players can be sure of enjoying exciting exclusive bingo games with low stakes. They range from just a penny a ticket. Although bingo cards are issued in batches of five, they still provide players on a strict budget the opportunity of an affordable way to enjoy online entertainment.
✨ How will tombola Players React?
tombola's presentation is virtually the same as when the site was launched. Players love the sense of community spirit that Phil Cronin has consistently worked hard to achieve. Without him at the helm, can players expect their favourite online bingo site to suddenly change? Instead of being exclusively bingo, will tombola become a multiple category gaming site like Flutter's other acquisitions such as BetFair, Paddy Power, and SkyBet?
Flutter's CEO, Peter Jackson, acknowledges tombola's "...highly recreational customer base...and focus on sustainable play.” He even hints at an unchanged continuation by combining "...Flutter’s digital marketing expertise with tombola’s operational capabilities.” He also looks "...forward to welcoming the Tombola team to Flutter and growing a sustainable business for the future together.”
✨ Long-Term Business Opportunities
tombola has been highly successful. It can now provide the dedicated bingo presence that Flutter often feels it has lacked. Flutter's online gaming empire is much more varied, with platforms in Australia and America. The acquisition should be finalised in the first quarter of 2022. Flutter could give tombola a worldwide platform, incorporating engaging slots from software giants such as Playtech and NetEnt. But ultimately, tombola's future success might depend on how effectively Flutter preserves tombola's uniqueness and community atmosphere.