Flutter Entertainment has completed its €141m [$153m] investment in MaxBet Kladionica to become the market leader in Serbia and advance its position within Balkan territories.

The deal to acquire a 51% stake in Maxbet was first announced in September 2023, with Flutter securing exclusive rights to acquire the remaining share of the Serbian business.

Branded a ‘local hero’ by Flutter, MaxBet operates 400 betting points in the markets of Serbia, Montenegro, Macedonia, and Bosnia Herzegovina with an estimated 20% online share in Serbia, and 95,000 online average monthly players.

MaxBet will be managed by the Flutter International unit, joining the portfolio of PokerStars, Adjarabet, Sisal, Junglee, and Betfair (non-UK).