Regulators Greenlight Flutter’s Takeover of Snaitech

Flutter Entertainment, a company describing itself as the world’s leading online sports betting and iGaming operator, announced that its acquisition of Snaitech (Snai), one of Italy’s leading omni-channel operators, has secured the necessary regulatory approvals to proceed.

The Takeover Can Move Forward

Flutter elaborated that its takeover of Snai has received all necessary antitrust, gaming and regulatory confirmations. This will allow the two parties to close the deal, which will significantly enhance the former company’s position in Italy, Europe’s largest regulated market.

Flutter, which is the name behind popular gaming brands, such as FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, MaxBet, Junglee Games, and Adjarabet, added that this acquisition deal is fully in line with its overall business strategy. The operator has long pursued growth in attractive international markets via strategic investments and acquisitions.

Like other similar agreements, the takeover of Snai will create value for Flutter by allowing it to reach more clients with its leading products and capabilities. The addition of Snai in particular will ensure Flutter a significant foothold in one of Europe’s key jurisdictions.

Adding Snai to the Flutter portfolio will consolidate Flutter’s leadership position in Italy and create a position of increased scale to capitalize on the growth opportunity in Europe’s largest regulated market.

Flutter statement

The Deal Should Close Soon

Consistent with Flutter’s initial announcement, the acquisition will see the company pay EUR 2.3 billion to acquire Snaitech from a subsidiary of Playtech. Flutter added that it expects to complete the transaction by the end of this month.

An additional update will follow as part of the company’s Q1 2025 results, which are set to be published on May 7.

Speaking of which, Flutter recently revealed upcoming changes to its reporting. Set to take effect from the company’s upcoming quarterly report, the changes will see its reports split into two segments, representing its US and international businesses.

Flutter’s management previously said that this change will reflect its current business model and the way in which it manages operations and allocates resources.