Flutter Considers Italian Lottery License Bid
Flutter Entertainment is reportedly exploring the possibility of entering the bidding process for Italy’s primary lottery license, a market currently dominated by IGT. According to sources, the company is considering a solo bid or a potential collaboration with another party to strengthen its position.

Flutter’s Potential Bid for the Lottery License
The current Italian lottery license, held by IGT for the past three decades, is set to expire in November this year. The Italian Agency for Customs and Monopolies has set the minimum bid at EUR 1 billion, with a deadline for submissions on March 17. Industry experts estimate that the new nine-year contract could generate a gross value of EUR 4.3 billion.
While Flutter has yet to confirm its participation, sources indicate that the company is actively assessing various strategic approaches, including forming a consortium to improve its chances in the highly competitive bidding process.
An anonymous industry analyst suggested that partnering with another company could be a prudent move, though it remains uncertain whether Flutter will ultimately opt for this route.
Flutter’s Growing Presence in the Italian Market
Flutter has established a strong foothold in the Italian market through its ownership of Sisal, an operator that provides lottery services alongside online gaming and sports betting. Acquiring the main lottery license would allow Flutter to enhance its cross-selling strategy, leveraging lottery participation to drive engagement across its broader gaming offerings.
The company has demonstrated a significant commitment to Italy, underscored by its EUR 1.9 billion acquisition of Sisal in 2022. In addition, Flutter expanded its market presence further by acquiring Snaitech, Italy’s third-largest iGaming company, strengthening its market share to approximately 30%.
Despite its interest, Flutter’s leadership has emphasized a disciplined financial approach to any potential bid. CEO Peter Jackson previously stated that the company would pursue the opportunity only if it aligned with its broader economic strategy.
Financial Challenges in the US Market
While Flutter looks to expand in Europe, its financial performance in the United States has faced recent challenges. The company revised its revenue forecasts for 2024 following unfavorable betting outcomes in the NFL, where a high success rate for favorites impacted revenue expectations.
Flutter adjusted its revenue projection to $5.78 billion, down from the previously estimated range of $6.05-$6.25 billion. This revision led to a slight decline in the company’s stock price, reflecting investor concerns over the U.S. market’s volatility.