Sports betting and gaming giant Flutter Entertainment has announced two significant acquisitions, further solidifying its international presence. The Dublin-based company, known for brands like Sky Betting and Gaming, Betfair, and FanDuel, has agreed to acquire Snaitech SpA (Snai), one of Italy’s leading omni-channel gaming operators, in a deal worth €2.3 billion (£1.9 billion).
At the same time, Flutter has secured a majority stake in Brazil’s NSX Group for $350 million, positioning itself for growth in two of the world's most lucrative gaming markets. The Snaitech acquisition, expected to close by Q2 2025, marks a strategic move by Flutter to strengthen its leadership in the European market, with Italy being the continent's largest regulated gambling market.
Snaitech boasts a strong retail presence, with over 2,000 sites and 291,000 average monthly players, generating €947 million (£798 million) in regulated revenue in 2023. Half of this revenue was generated through online channels. Flutter CEO Peter Jackson highlighted that the acquisition fits seamlessly into the company’s strategy of value-creating mergers and acquisitions.
“This transaction is compelling both strategically and financially,” Jackson said. “It offers significant opportunities to accelerate Snai’s growth by leveraging Flutter’s market-leading products and global reach.”
The deal will enhance Flutter’s competitive position in Italy, where gross gaming revenue is projected to hit €21 billion (£17.7 billion) in 2023. Snaitech’s omni-channel model, which integrates both retail and online platforms, is a key asset for Flutter, allowing for increased customer acquisition and engagement.
Concurrently, Flutter's acquisition of a majority stake in Brazil's NSX Group further underscores its commitment to expanding in emerging markets. Brazil, where sports betting has surged in popularity since its legalisation in 2018, remains unregulated, but formal regulations are expected soon. Flutter already operates its Betfair brand in Brazil and sees the acquisition of NSX, the country’s fourth-largest online gaming operator, as a strategic move ahead of impending regulation.
With these acquisitions, Flutter is cementing its position as a global leader in the gaming industry, expanding its portfolio across Europe, South America, and other key markets like India, Georgia, and Canada. Under Jackson’s leadership, the company has aggressively pursued international growth, and the recent deals reflect Flutter’s long-term strategy of tapping into regulated markets and expanding its footprint worldwide.
By acquiring both Snai and NSX, Flutter not only gains access to two booming markets but also boosts its ability to innovate and scale its operations through a diversified retail and online customer base. These moves are expected to propel the company’s growth, providing significant opportunities for future expansion across the globe.
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