Flutter Entertainment has further expanded their portfolio of gaming brands with the acquisition of Italian gaming brand Sisal for a consideration of £1.6bn.
Sisal is expected to generate EBITDA of €248m/£211m in the year to December 2021. The deal is expected to be completed in Q2 2022 and is predicted to be accretive to earnings in the first 12 months post completion.
The acquisition will broaden Flutter’s global portfolio which includes PaddyPower, Betfair, Foxbet, PokerStars and Sky Bet.
“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,” said Peter Jackson, Flutter Chief Executive.
“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.”