Flutter Entertainment secures green light for €2.3B Snaitech acquisition
Flutter Entertainment has officially received the final go-ahead to acquire Snaitech, marking a significant milestone in the company’s ongoing expansion across Europe.
The €2.3 billion deal — which was first announced last year — is now set to close by the end of April, following the completion of all required antitrust, regulatory, and gaming approvals.
This move solidifies Flutter’s presence in Italy, a market it has long targeted for the company.
By absorbing Snaitech into its portfolio, Flutter takes another major step in its strategy to invest in what it calls “gold medal” brands — operators with leading market share in strategic international territories.
“This acquisition 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,” the company said in a statement.
A major play in Europe’s largest regulated market
As previously alluded to, Italy has been a key focus for Flutter, which has steadily been expanding its footprint through a series of high-profile acquisitions.
Snaitech, one of Italy’s largest omni-channel operators, has a strong foothold in both retail and online betting — a combination that’s especially valuable in a market where physical shops still play a central role.
The addition of Snaitech, following Flutter’s earlier acquisition of market leader Sisal in 2022, gives the group a commanding position with an estimated 30% share of the Italian market.
It also places Flutter in a strong position to capitalize on future opportunities, including a potential bid for Italy’s National Lottery.
While no formal bid has been submitted yet, some have speculated that Flutter could be eyeing the lottery as its next strategic move in Italy.
That said, the idea of combining lottery operations with sports betting and casino products has raised concerns among some responsible gambling groups.
What’s next?Flutter says the Snaitech transaction is expected to formally close by the end of April, and further updates will be provided during its Q1 earnings release on May 7.
The acquisition of Snaitech is a signal to the wider industry that the battle for Europe’s top betting markets is far from over.
With a firm grip now on Italy, Flutter has made it clear that it’s playing to win.
The post Flutter Entertainment secures green light for €2.3B Snaitech acquisition appeared first on ReadWrite.