Flutter Entertainment announces completion of Snai acquisition

Core Viewpoint - Flutter Entertainment has completed the acquisition of Snaitech S.p.A. for an enterprise value of €2.3 billion, enhancing its position in the Italian market and aligning with its strategy for international growth [1][2]. Group 1: Acquisition Details - The acquisition of Snai is expected to increase Flutter's online market share in Italy to approximately 30% [5]. - Snai's strong omnichannel presence is anticipated to create significant growth opportunities by providing access to Flutter's market-leading products and capabilities [2][5]. - The transaction is financed through a €2.5 billion senior secured first lien term loan, with plans to use the facility for acquisition-related expenses and general corporate purposes [4][6]. Group 2: Strategic Importance - The acquisition aligns with Flutter's strategy to invest in leadership positions in attractive international markets, particularly in Southern Europe and Africa [2]. - Snai's established brand and customer base are expected to enhance Flutter's "local hero" brand portfolio, diversifying customer acquisition opportunities in Italy [5]. - The integration of Snai is projected to deliver target operating cost synergies of at least €70 million within three years, alongside additional revenue synergies through enhanced pricing and risk management capabilities [5]. Group 3: Future Outlook - Flutter plans to provide further updates, including financial guidance, in its first quarter results on May 7, 2025 [3].