Flutter to Purchase Sisal for €1.91bn

This story was published more than 2 years ago.

Today it was revealed that online gaming group Flutter Entertainment will be purchasing Italian group Sisal for a cash consideration of €1.91 billion.

The deal will be paid for fully in cash, with Sisal's existing debt being paid off by Flutter, using the latter's debt facilities to finance the cash payout. Sisal serves as Italy's national lottery licensee and is also active in Turkey and Morocco. It has also put forth a bid to run the UK National Lottery.

Commenting on the deal Flutter CEO Peter Jackson said, "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."

This agreement is subject to regulatory approvals in the markets where the companies are operating, and it is expected to be finalized in the second part of 2022.

We'll follow this story and update as we learn more about the purchase.

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About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.