One of the leading companies in the Irish market has decided to expand into other markets through the acquisition of a popular operator. Namely, Flutter Entertainment plc will expand the scope of business to Italy with the acquisition of Sisal, which is one of the most famous operators in this country. The brand will buy the operator from CVC Capital Partners Fund VI, and has set aside €1.913bn for this transaction, which is as much as £1.62bn.
The move is just another step the company is taking to reach its goal of leading as many key markets around the world as possible. The acquisition process is expected to be completed in the second quarter of next year.
Operator’s Business
Sisalis a casino headquartered in Milan, Italy, and has gained a reputation in this country as one of the most reliable and best operators. This casino expects to produce a total income for 2021 of €248m / £211m. In this regard, 59% of revenue comes from its online portfolio while the other 41% comes from Sisal’s retail and lottery operations.
However, Sisal’s 2021 income is not coming only from Italian operations. 10% of revenue is contributed by regulated operations in territories such as Morocco and Turkey, while the majority is brought by Italy, more precisely 90%.
What Benefits Will Flutter Entertainment Have?
First of all, this brand will enjoy an even better reputation after the completion of this acquisition, given that it will add this highly respected casino to its portfolio. Secondly, Flutter is already present in this market through PokerStars and Betfair, and when Sisal adds as the third, we believe it will be a winning combination. This bookmaking holding company will also further increase its presence in the market that is the second-largest European gambling market thanks to this acquisition.
Flutter should gain even more customers, but the acquisition will also increase the company’s revenue. This income was over 91% in the third quarter of this year.
These are just some of the benefits that the company will enjoy, but they are not the only ones for sure!
Peter Jackson, Flutter Chief Executive – comment
“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. 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. Sisal has grown its online presence significantly in recent years, aided by its proprietary platform and commitment to innovation. I’m excited to see how Flutter can complement these capabilities through our scale, differentiated products, and operational capabilities. We look forward to welcoming Francesco and the rest of the Sisal team to Flutter in 2022.”
Source:
’’Flutter boosts Italian presence with the acquisition of Sisal, Italy’s leading online gaming operator’’, europeangaming.eu, 23. December 2021.
The post Flutter Entertainment Conquers the Italian Market with the Acquisition of Operator Sisal first appeared on RealMoneyAction.com.