Flutter eyes $21B revenue by 2027
Flutter Entertainment plc announced its long-term growth strategy with $21B revenue by 2027.Flutter Entertainment plc, simply known as Flutter, is an international sports...
Flutter to acquire Playtech’s consumer division
With a newly signed agreement, Flutter will acquire Playtech‘s consumer division, Snaitech, for £2 billion.
Flutter Entertainment plc, simply known as Flutter, is an international sports betting and gambling company. It is also the parent company of brands like Paddy Power and Betfair.
According to a recent report from SkyNews, Flutter will acquire one of the world’s leading gambling technology companies, Playtech’s consumer division, particularly Italian sports betting operation, Snaitech. Snaitech has grown into one of Italy’s largest gambling companies, making it a valuable asset in the European gaming market.
Despite some challenges, including a failed takeover by Australia’s Aristocrat Entertainment in 2022 and a collapsed merger with 888 Holdings in 2023, analysts still see Snaitech as a strong acquisition target.
The Playtech-Flutter deal is expected to close following regulatory approval.
Flutter’s expansion
Flutter reported Snaitech’s acquisition in August when it valued Snaitech at £2 billion. Flutter views the purchase as a crucial move to expand its European footprint.
Recently, the company also acquired a 56% stake in Brazil’s NSX Group, marking its continued global growth strategy not only across Europe. The deal is set to be finalized by the second quarter of 2025.
FAQs
What does Flutter Entertainment do?
Flutter Entertainment is an international sports betting and gambling company that owns famous brands Paddy Power and Betfair.
Why will Flutter acquire Playtech’s consumer division, Snaitech?
Flutter plans to acquire Playtech’s consumer division, Snaitech, to strengthen its European presence, while recent deals in Brazil show Flutter’s focus on international expansion beyond Europe.
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