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Flutter Entertainment plc (PDYPF)
- The Telegraph
Sunderland bingo entrepreneur scores £400m payday from Tombola sale
A bingo entrepreneur from Sunderland is in line for a payday of more than £400m after his online business was snapped up by the owner of Betfair and Paddy Power.
- Reuters
Flutter buys UK online bingo operator Tombola for 402 million pounds
Flutter Entertainment has acquired Tombola, one of the UK's leading online bingo operators, for an enterprise value of 402 million pounds ($542 million), the Paddy Power, Betfair and Fanduel owner said on Thursday. The world's largest online betting group said the deal would diversify its products, expand its position in an area where historically it has not had a big presence, add a sustainable player base and enhance Flutter's operations in its core UK market. With gambling groups under pressure to make their markets less risky for punters, Flutter noted that Tombola was the first major UK-focused operator to introduce both mandatory staking and deposit limits.
- Motley Fool
Why Penn National Stock Has Lost Its Luster
In the gambling industry, there isn't a lot of hiding what you are as a company. When Penn National Gaming (NASDAQ: PENN) became a favorite pandemic growth stock in 2020, it was surprising to me as a longtime gambling industry observer. Penn National has traditionally been a well-run company, but it wasn't in a particularly attractive market position versus companies with exposure to the Las Vegas Strip, Macao, or Japan.
