Flutter Entertainment has acquired leading Italian igaming operator Sisal for €1.9bn/$2.2bn, more than doubling its share in the Italian online gaming market to 20%. The company is also known for running several national lotteries and recently just missed out on winning the UK contract to Allwyn.
"Flutter is pleased to announce that it has received all necessary regulatory confirmations with respect to the acquisition of Sisal and the transaction completed on 4 August 2022."
Leadership PositionsThis deal is a part of Flutter’s strategy of investing in regulated markets to build leadership positions Peter Jackson, Flutter CEO, said the firm had wanted for some time to pursue this avenue in the Italian market and was excited to see how flutters scale and operational capabilities would complement the new acquisition.
Francesco Durante, Sisal Chief Executive, said: “Over the last five years, thanks to CVC’s support, we have successfully transformed Sisal into a leading digital and international gaming company. Through our commitment to digital innovation, international expansion and safer gambling, we have achieved a leadership position in Italy’s online gaming market and developed our global footprint by winning lottery tenders in Morocco and Turkey.”
Italy is Europe’s second largest regulated online gambling market and still growing fast. Sisal’s revenue in the space has grown at a compounded 34% since 2016 leaving them with an average of 300,000 highly-engaged users and more than 9.5 million retail customers.