At Extreme Investor Network, we bring you the latest news and insights in the world of business, with a focus on investment opportunities and market trends. Today, we’re excited to share with you a major development in the gambling industry involving FanDuel parent company, Flutter Entertainment.
Flutter Entertainment has announced a significant move to acquire Italian gambling company Snaitech from Playtech for $2.6 billion. This strategic acquisition is part of Flutter’s broader strategy to expand its presence in international markets and strengthen its position as a leader in the industry. With Italy being Europe’s largest regulated market, the addition of Snaitech to Flutter’s portfolio is expected to open up new growth opportunities for the company.
Italy is a lucrative market for gambling companies, with approximately 21 billion euros in gross gaming revenue in 2023. However, only 21% of that revenue came from online play, indicating untapped potential in the digital gaming space. Snaitech operates a network of gambling shops and online gaming platforms, making it a valuable asset for Flutter as it continues to expand its footprint in Italy.
The acquisition of Snaitech is just the latest in a series of strategic moves by Flutter to boost its international presence. Recently, the company acquired a majority stake in NSX Group, a prominent player in the emerging Brazilian market. With regulated gambling set to begin in Brazil in January, Flutter is well-positioned to capitalize on this new opportunity for growth.
CEO Peter Jackson expressed optimism about the future prospects of Flutter following these acquisitions, highlighting the company’s commitment to driving innovation and delivering value to shareholders. The upcoming rebranding of Flutter’s Brazilian business and the expected closure of the Snaitech deal in the second quarter of 2025 signal a new chapter of growth and expansion for the company.
As the global gaming landscape continues to evolve, Flutter’s strategic acquisitions and investments position it as a key player in the industry. Stay tuned to Extreme Investor Network for more updates on this developing story and other investment opportunities in the dynamic world of business.