The owner of Paddy Power and Betfair has agreed to buy UK bingo group Tombola for £402 million. Flutter Entertainment said it had “long admired” the online bingo firm as it unveiled the all-cash deal.

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Europe’s biggest online bingo website has told staff that 250 jobs are at risk as it seeks cost savings following a takeover by Irish betting giant Flutter, according to people briefed on the plans.

DUBLIN (Reuters) - 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 ...

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