Flutter Entertainment Snaps Up Snaitech For €2.3B, Aiming To Dominate Italy's Online Betting Scene
Portfolio Pulse from Lekha Gupta
Flutter Entertainment is acquiring Snaitech for €2.3 billion to strengthen its position in Italy's online betting market. The acquisition is expected to close by Q2 2025 and be immediately accretive to earnings. Flutter aims for a 30% market share in Italy post-acquisition.

September 17, 2024 | 12:27 pm
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Flutter Entertainment is acquiring Snaitech for €2.3 billion, aiming to dominate Italy's online betting market. The acquisition is expected to be accretive to earnings and generate significant cost synergies.
The acquisition of Snaitech aligns with Flutter's strategy to expand in international markets, particularly in Italy. The deal is expected to be accretive to earnings and generate cost synergies, which are positive indicators for Flutter's stock price. The market's positive premarket reaction further supports this analysis.
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