Regulatory Approval Achieved For Snai Acquisition
Rhea-AI Summary
Flutter Entertainment (NYSE: FLUT) has received all necessary regulatory approvals to acquire Snaitech S.p.A., a leading Italian omni-channel operator, from Playtech plc. The transaction, valued at €2.3 billion enterprise value, is expected to complete by end of April 2025.
The acquisition strengthens Flutter's position in Italy, Europe's largest regulated market, aligning with the company's strategy to invest in leadership positions in attractive international markets. The deal aims to leverage Flutter's market-leading products and capabilities while creating increased scale to capitalize on growth opportunities.
Flutter will provide additional updates during its first quarter results announcement on May 7, 2025.
AI-generated analysis. Not financial advice.
Positive
- Strategic acquisition valued at €2.3B strengthens market leadership in Italy
- Expansion in Europe's largest regulated market
- Access to additional growth opportunities through increased scale
- Integration of Flutter's market-leading products with Snai's operations
Negative
- Significant cash outlay of €2.3B for the acquisition
News Market Reaction – FLUT
On the day this news was published, FLUT gained 11.37%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Regulatory approval achieved for Snai acquisition, enhancing Flutter's position in Italy, Europe's largest regulated market
NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment (NYSE: FLUT; LSE: FLTR) ("Flutter") the world's leading online sports betting and iGaming operator today announces that it has received all necessary antitrust, gaming and regulatory confirmations to acquire Snaitech S.p.A. ("Snai"), one of Italy's leading omni-channel operators.
The acquisition of Snai fully aligns with Flutter's strategy to invest in leadership positions in attractive international markets, creating value through providing access to Flutter's market leading products and capabilities. Adding Snai to the Flutter portfolio will consolidate Flutter's leadership position in Italy and create a position of increased scale to capitalize on the growth opportunity in Europe's largest regulated market.
As previously announced, Flutter will acquire Snai from a subsidiary of Playtech plc, for cash consideration based on an enterprise value of
About Flutter Entertainment plc
Flutter is the world's leading online sports betting and iGaming operator, with a market leading position in the US and across the world. Our ambition is to leverage our significant scale and our challenger mindset to change our industry for the better. By Changing the Game, we believe we can deliver long-term growth while promoting a positive, sustainable future for all our stakeholders. We are well-placed to do so through the distinctive, global competitive advantages of the Flutter Edge, which gives our brands access to group-wide benefits to stay ahead of the competition, as well as our clear vision for sustainability through our Positive Impact Plan.
Flutter operates a diverse portfolio of leading online sports betting and iGaming brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, MaxBet, Junglee Games and Adjarabet. We are the industry leader with
Contacts:
| Investor Relations: | Media Relations: |
| Paul Tymms, Investor Relations | Kate Delahunty, Corporate Communications |
| Ciara O'Mullane, Investor Relations | Rob Allen, Corporate Communications |
| Chris Hancox, Investor Relations | Lindsay Dunford, Corporate Communications |
| Email: investor.relations@flutter.com | Email: corporatecomms@flutter.com |
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. In some cases, you can identify these forward-looking statements by the use of words such as "outlook", "believe(s)", "expect(s)", "potential", "continue(s)", "may", "will", "should", "could", "would", "seek(s)", "predict(s)", "intend(s)", "trends", "plan(s)", "estimate(s)", "anticipates", "projection", "goal", "target", "aspire", "will likely result", and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties and there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The ability to predict results or actual effects of our plans and strategies is inherently uncertain. Accordingly, actual results may differ materially from those expressed in, or implied by, the forward-looking statements.
Factors that could cause Flutter's results to differ materially from those described in the forward-looking statements can be found in Part I, "Item 1A. Risk Factors" of Flutter's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as filed with the Securities and Exchange Commission (the "SEC") and other periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Flutter undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
