Flutter Gets Final Approval for €2.3bn Snai Acquisition in Italy
Flutter Entertainment has secured full regulatory clearance for its €2.3 billion acquisition of Snai, marking a major step in its strategy to strengthen its presence in Italy. The deal is expected to close by the end of April 2025.
Italy Becomes Key Pillar in Flutter’s Global Strategy
Italy has long been a priority for Flutter, and the Snai acquisition signals a clear intention to cement its presence in this crucial market. With Snai’s strong domestic footprint across retail and digital channels, the move adds considerable operational scale to Flutter’s European portfolio.
Flutter will acquire Snai from a Playtech-owned subsidiary, bringing the Italian brand under the umbrella of one of the largest gambling groups globally. According to the company, Snai will gain access to Flutter’s proprietary technology and gaming content, opening opportunities for further digital growth.
A Deal Backed by Strong International Performance
The approval comes amid a period of sustained growth across Flutter’s non-US operations. In its FY2024 financial results, the group reported $14.05 billion in total revenue and a 113% year-on-year increase in net income. Revenue from international operations outside the United States reached $2.2 billion, buoyed by positive momentum in iGaming and strong margins in sports betting—particularly in markets like the UK and Italy.
Flutter’s broader strategy focuses on growing share in regulated international markets. This latest acquisition follows the 2023 purchase of Serbian operator MaxBet and comes as the company evaluates further expansion opportunities, including a potential bid for Italy’s national lottery licence, currently operated by IGT.
Outlook and Strategic Positioning
Looking ahead, Flutter has set ambitious financial targets for its international segment. Guidance for 2025 forecasts revenue outside the US of up to $8.45 billion, with adjusted EBITDA expected to rise by up to 10%.
The Snai acquisition not only consolidates Flutter’s position in a key European market, but also aligns with its long-term plan to lead in major regulated jurisdictions. With regulatory clearance now secured, the focus shifts to integration and execution in a highly competitive, yet strategically vital, market.