Flutter records $370M revenue decline due to NFL losses
An international sports betting and gambling company, Flutter Entertainment plc, simply known as Flutter announced revenue declines due to unfavorable NFL betting results in...
Flutter Entertainment eyes Italy’s main lottery license
An international sports betting and gambling company, Flutter Entertainment plc, is considering a bid for Italy’s prestigious lottery license, challenging the current holder, IGT.
Over the next nine years, Italy’s lottery, valued at €4.3 billion, has drawn significant interest, and Flutter’s plan to have its presence also in the lottery market aligns with its recent push in Italy’s gaming market. In 2022, Flutter acquired Sisal, a leading lottery and online gaming operator, for €1.9 billion. Moreover, Flutter also owns Snaitech, Italy’s third-largest iGaming company, which gives Flutter a 30% market share in the country.
If successful, obtaining the main lottery license could maximise Flutter’s cross-selling strategy. Through Sisal, Flutter has already used lottery tickets to promote online gaming and sports betting.
According to analysts, Flutter will avoid any risky financial commitments and will cautiously advance its system.
Flutter’s CEO, Peter Jackson, recently indicated the company’s interest, emphasizing it would only bid if economically viable, showing the company’s commitment to expanding in Italy, which has recently launched a new online gambling regime.
FAQs
Is gambling legal in Italy?
Gambling in Italy is legal and regulated.
What is the legal gambling age in Italy?
The legal gambling age in Italy is 18 years old.
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