The purchase of Italian online operator Sisal for €1.91bn ($2.17bn) has been announced by Flutter Entertainment, with the transaction likely to finalise during Q2 of 2022.
In terms of regulated European gaming markets, Italy is second only to the UK in terms of size, and this acquisition will significantly strengthen Flutter’s position in Italy, with the two companies’ PokerStars and Betfair brands holding a combined online market share of around 20%. It is reported that Sisal will also add 300,000 regular online players and more than 9.5m retail customers to the Flutter player base.
“I am delighted to add Sisal, Italy’s leading gaming brand, to the group as we look to attain a gold medal position in the Italian market,” said Flutter CEO, Peter Jackson. “Sisal has grown its online presence significantly in recent years, aided by its proprietary platform and commitment to innovation. I am excited to see how Flutter can complement these capabilities through our scale, differentiated products and operational capabilities.”
Francesco Durante, Sisal CEO, added: “Over the last five years, thanks to CVC’s support, we have successfully transformed Sisal into a leading digital and international gaming company. We are delighted to join Flutter and are convinced that through its scale and operational capabilities, we will be able to further strengthen our leadership in the markets we operate in.”