Flutter Entertainment plc (LSE:FLTR) agreed to acquire 51% stake in Max Bet d.o.o. Novi Sad for approximately ?130 million on September 27, 2023. Flutter also has the opportunity to acquire the remaining 49% in 2029. Max Bet has reported revenue of ?145 million and adjusted EBITDA of ?32 million during LTM to June 2023. The transaction is subject to customary regulatory clearances and is expected to close in Q1 2024. Luka Lopicic, Marija Vlajkovic and Jelena Arsic of Moravcevic Vojnovic and Partners in cooperation with Schoenherr acted as legal advisor to the shareholders of Maxbet. Oakvale Capital LLP acted as the financial advisor to the sellers. Uros Camilovic, Miroslava Blazic of BDO Business Advisory LLC acted as financial advisor to Max Bet.

Flutter Entertainment plc (LSE:FLTR) completed the acquisition of 51% stake in Max Bet d.o.o. Novi Sad on January 9, 2024.