Flutter Entertainment Acquires Snaitech for €2.3 Billion

Flutter Entertainment, a leading global sports betting and gaming operator, has announced the acquisition of Snaitech, an Italian online gaming and betting operator, for a total consideration of €2.3 billion.

The acquisition is expected to significantly enhance Flutter Entertainment's position in the Italian market, one of the largest and most attractive regulated online gaming markets in Europe.

Snaitech is a leading operator in the Italian market with a strong brand and a loyal customer base. It offers a wide range of online gaming products, including sports betting, casino games, and poker.

The acquisition will allow Flutter Entertainment to combine its global expertise in online gaming with Snaitech's strong local presence and customer base in Italy.

The transaction is expected to be completed in the second half of 2023, subject to regulatory approvals and other customary closing conditions.

Benefits of the Acquisition for Flutter Entertainment

• Increased market share in Italy: The acquisition will make Flutter Entertainment the leading operator in the Italian online gaming market, with a combined market share of over 20%.
• Enhanced product offering: Flutter Entertainment will be able to offer its full suite of online gaming products to Snaitech's customers, including sports betting, casino games, and poker.
• Cross-selling opportunities: The acquisition will allow Flutter Entertainment to cross-sell its products to Snaitech's customers and vice versa.
• Operational synergies: Flutter Entertainment expects to achieve significant operational synergies through the integration of Snaitech's operations.

Benefits of the Acquisition for Snaitech

• Access to global expertise: Snaitech will gain access to Flutter Entertainment's global expertise in online gaming, including its technology, marketing, and customer service capabilities.
• Enhanced product offering: Snaitech will be able to offer its customers a wider range of online gaming products, including Flutter Entertainment's popular sports betting and casino games.
• Increased scale: The acquisition will allow Snaitech to benefit from the scale and resources of a larger operator.

Conclusion

The acquisition of Snaitech by Flutter Entertainment is a major development in the global online gaming industry.

The acquisition will significantly enhance Flutter Entertainment's position in the Italian market and provide Snaitech with access to global expertise and resources.

The transaction is expected to be completed in the second half of 2023, subject to regulatory approvals and other customary closing conditions.