Flutter ‘explores £150 million sale of Oddschecker’
Flutter, the owner of Betfair and Paddy Power, is exploring a sale of its comparison platform Oddschecker in a move that could see the platform fetch around £150 million.
The Standard has confirmed reports that the FTSE 100 gambling giant has hired investment bank Moelis to look into the potential disposal.
Oddschecker, which lets gamblers compare prices across several brands, including Bet365 and 888, is not one of Flutter’s core brands.
After the bookmaker took over the platform its rival, Ladbrokes owner Entain, removed its presence.
Flutter is also preparing a partial flotation of its US arm FanDuel, which has a 40% share of the US betting market.
It comes after the Dublin-based group reported 2020 revenues up 28% to £5.3 billion on a pro forma basis, with pre-tax profits falling from £136 million to just £1 million in part due to costs associated with its £9.3 billion acquisition of Canadian gambling firm, Stars Group, last May.
Chief executive Peter Jackson is focusing on expanding the group’s core operations.
Shares were down 0.2%, or 30p, to 15655p, on Monday morning.
