Key Takeaways
- Flutter, parent company of PokerStars, in its recent earnings call, revealed that it has acquired a majority stake in Junglee Games.
- The acquisition was completed in January this year, with the global gaming giant buying a 50.1% stake.
- The deal also gives Flutter the option of acquiring the remaining stake to buy the remainder of the company in 2025.
- With this acquisition, Flutter further expands its presence in the burgeoning market of India.
Global gaming giant Flutter, parent company of PokerStars, in its recent call earnings, revealed that it has acquired a majority stake in India’s skill-based company Junglee Games.
The acquisition was completed in January this year, with the global gaming giant buying a 50.1% controlling stake of the Indian startup—a deal worth £48 million ($66.2 million).
The deal also gives Flutter the option of acquiring the remaining stake to buy the remainder of the company in 2025.
“This acquisition represents another exciting development for the Group and gives us a clear podium position in a very large and fast-growing market,” Flutter stated in its 2020 annual report.
