![]() “For some time we have wanted to pursue this market opportunity via an omni-channel strategy and this acquisition will ideally position us to do so. "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,” commented Flutter chief executive Peter Jackson. The acquisition will add 300,000 online average monthly players and over 9.5 million retail customers to Flutter’s recreational customer base. Sisal's online revenues have grown by a compound annual rate of 34% since 2016, Flutter said. Online penetration has grown from 10% in 2019 to around 20% at present, but remains well below the UK and Australia where the online share of total gambling spend was estimated to be 60% and 70% respectively in 2019.įlutter said the Italian online market is projected to be worth £3.6bn by 2024, equating to five-year compound annual growth of 18%. ![]() Italy is Europe’s second-largest regulated gambling market after the UK, with total estimated gross gaming revenues in 2019 of €19bn. The combination of Sisal and Flutter's existing online Italian presence through PokerStars and Betfair will give the group an online market share of 20% in Italy. The deal diversifies Flutter's product and geographical footprint and increases the proportion of its revenue from regulated markets, which was over 91% in the third quarter of 2021. Sisal is also competing in the tender to run the UK National Lottery. It expects to generate EBITDA of €248mln in 2021, with 58% coming from its online offering and the remainder from retail and lottery operations.Īround 90% of the company’s 2021 EBITDA is generated in Italy with the rest coming from regulated lottery operations in Turkey and Morocco. ![]() Milan-based Sisal is a leading betting, gaming and lottery operator with around 2,500 employees. It is expected to be earnings accretive in the first 12 months following completion, Flutter said in a statement., The acquisition, from CVC Capital Partners Fund VI, is set to complete in the second quarter of 2022. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.įlutter Entertainment PLC (LSE:FLTR) said it bought Sisal, Italy's leading online gaming operator, for €1.913bn (£1.62bn), boosting its position in Europe’s second-largest regulated gambling market. ![]() Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. Our human content creators are equipped with many decades of valuable expertise and experience. ![]() Proactive has always been a forward looking and enthusiastic technology adopter. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. Proactive leads the world in up-to-the-minute, multi-media news provision, events organisation, investor relations management and investor research ![]()
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