Flutter Entertainment has completed the acquisition of Snaitech for €2.3 billion after obtaining all the necessary regulatory approvals. This strategic transaction strengthens Flutter’s leading position in the Italian online and physical gaming market by integrating Snaitech with its existing brands such as PokerStars and Sisal. Flutter expects synergies of €70 million and accelerated growth thanks to its technologies. For its part, Playtech, the seller of Snaitech, is refocusing on its B2B activities and expects to make a substantial return to shareholders. This acquisition confirms Flutter’s strategy of consolidation on regulated markets in Europe.
Flutter Entertainment has obtained all the necessary regulatory approvals to complete its €2.3 billion acquisition of Snaitech, one of Italy’s leading gaming operators. This strategic transaction will enable Flutter to strengthen its presence in the Italian market, considered to be one of the most important in Europe.
Strategic expansion in Italy
With this acquisition, Flutter adds Snaitech to its portfolio of local brands, alongside PokerStars, Betfair, Tombola and Sisal. This consolidation positions Flutter as the leader in the Italian gaming market, with an estimated 30% share of the online sector. Snaitech, which operates more than 2,000 physical points of sale, also brings a strong presence in the retail gaming sector.
Flutter expects operational synergies of around €70 million within three years of completing the acquisition. The integration of Snaitech will optimise costs and enhance the product offering through access to Flutter’s technology and content.
Peter Jackson, CEO of Flutter, said:
‘This transaction is strategically and financially compelling. It creates a significant opportunity to accelerate Snai’s growth by providing access to Flutter’s products and capabilities.’
Playtech refocuses on B2B
For Playtech, the sale of Snaitech represents an opportunity to refocus on its B2B activities. The proceeds of the sale will enable Playtech to pay a special dividend of between €1.7 and €1.8 billion to its shareholders.
Mor Weizer, CEO of Playtech, emphasised that this transaction allows the company to focus on its technology offering in high-growth B2B markets.
Outlook for Flutter
This acquisition is part of Flutter’s strategy to strengthen its position in international regulated markets. In 2024, Flutter recorded total revenues of $14.05 billion, with net profit up 113% on the previous year. Revenues outside the US reached $2.2 billion, supported by positive momentum in the online gaming and sports betting markets, particularly in the UK and Italy.