Flutter Entertainment has reached an agreement to acquire Snaitech from Playtech for $2.56 billion, resulting in Flutter becoming the sole owner of Snaitech. The transaction is anticipated to finalise by the second quarter of next year.
In justifying the acquisition, Flutter highlighted that this move aligns with its strategy to "invest in leaders" within international markets. The addition of Snaitech will enhance Flutter’s existing operations in Italy, which already encompass PokerStars, Betfair, and Tombola.
For Snaitech, this acquisition presents an opportunity to leverage Flutter’s sophisticated pricing and risk management systems, along with its proprietary casino content, ultimately enhancing the gaming experience for Snaitech's customers.
The agreement has been approved by both companies, though it is still pending regulatory clearance. Flutter plans to share more information about the deal during its investor day on September 25.
