Flutter Entertainment Purchases Sisal, Becomes Italy's Leading Gambling Platform
Last month, Flutter announced they were purchasing the Italian gambling giant Sisal for $2.2 billion
With the purchase of Sisal, Italy’s leading online gaming platform, Flutter Entertainment has become the number one online gambling platform in the country. Flutter has been looking to become Italy’s leading operator, and the purchase of Sisal completes that goal.
Last month, Flutter announced they were purchasing the Italian gambling giant Sisal for $2.2 billion.
“This acquisition provides a gold medal online position in Italy, Europe’s second biggest regulated market,” Flutter tweeted last month. “Acquiring Sisal provides a leading omnichannel asset at a compelling valuation with an experienced management team and diversified product portfolio, including the addition of lotteries.”
We’re pleased to announce that Flutter has acquired Sisal, Italy’s leading online gaming operator, from CVC Capital Partners. This acquisition provides a gold medal online position in Italy, Europe’s second biggest regulated market. https://t.co/23ZXDvmGSm— Flutter plc (@FlutterPLC) December 23, 2021
Peter Jackson, Flutter Chief Executive, commented on this landmark for his company.
“Sisal has grown its online presence significantly in recent years, aided by its proprietary platform and commitment to innovation,” Jackson said. “I’m excited to see how Flutter can complement these capabilities through our scale, differentiated products and operational capabilities.”
Francesco Durante, Sisal’s Chief Executive, discussed his company’s growth that allowed them to become the leading online gaming operator in Italy.
“Over the last five years, thanks to CVC’s support, we have successfully transformed Sisal into a leading digital and international gaming company,” Durante said. “Through our commitment to digital innovation, international expansion and safer gambling, we have achieved a leadership position in Italy’s online gaming market.”
The purchase of Sisal brings a slew of entities under the ownership of Flutter, including the gaming totalizer Totip, a lottery operator called SuperEnalotto and the popular sportsbook Totalcalcio. Across all of Sisal’s assets, there are an estimated 300,000 player customer base which will soon completely belong to Flutter.
Good Moves, Bad ChoicesThe deal is set to close quarter one of 2022, and will wrap up a year of successful business moves.
Earlier last year, Flutter made another move with the purchase of Tombola, a UK based bingo operator. This $543 million deal brings Flutter the largest online bingo platform in the UK under its ownership. According to Flutter, it is a move to diversify its player pool and bring more casual gamblers into their brand.
It wasn’t all roses for Flutter last year, however. In November, Sky Betting and Gaming – a Flutter-owned entity – was found to be sending promotions for free spins to recovering gambling addicts. Flutter executive Conor Grant issued an apology for the blunder.
Despite the small hiccup, Flutter continues to expand in the online gambling world. Under Flutter’s ownership are Paddy Power, Betfair, PokerStars, Sky Bet, Sportsbet, FOX Bet, FanDuel, TVG and Adjarabet.
It will be interesting to watch Flutter continue to make big moves and expand their leadership in the online gambling world.