Flutter is selling its sports betting affiliate Oddschecker to Bruin Capital in a deal worth up to $215 million.
Flutter acquired Oddschecker when it purchased now-defunct gaming and online gambling company The Stars Group for $6 billion in 2019.
Oddschecker is being divested so Flutter can focus on its core global gaming brands like FanDuel and Fox Bet. Oddschecker is a leading sports betting company in the United Kingdom but also operates in the U.S., Italy, and Spain.
The move makes sense for Bruin, which is already invested in sports from several angles:
- Launched sports-focused streaming service OverTier in 2017
- Acquired sports marketing and analytics agency Two Circles in 2019
- Became a TGI Sport co-owner earlier this year after a $100 million investment
The Oddschecker acquisition marks the 23rd principal or add-on investment for Bruin since former IMG president and NASCAR executive George Pyne launched the company in 2015.
The transaction also represents the fourth time Oddschecker has changed owners since 1999.