Flutter Entertainment completes £1.62bn Sisal acquisition

Flutter Entertainment announced its completed acquisition of Italian online gaming operator Sisal for £1.62 billion on Friday, after receiving all the necessary regulatory confirmations for the transaction.

Flutter Entertainment commented the acquisition was aligned with its strategy of investing to build leadership positions in regulated markets.

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The Italian company has reportedly posted a strong performance since the agreement was announced.

Sisal grew its revenues 58% year-on-year to £402 million, with a 51% EBITDA climb to £120 million in HY1 2022.

Flutter Entertainment said the transaction had been completed using debt facilities agreed upon at the initial announcement on 23 December 2021.

The closed deal brought the group’s expected weighted average cost of debt to approximately 3.4% for HY2 2022.

Flutter Entertainment shares rose 0.7% to 8,762p in late morning trading on Friday.

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