Flutter completes £1.62bn Sisal acquisition

flutter-completes-1.62bn-sisal-acquisition

Flutter Entertainment has completed its acquisition of Sisal, with Flutter taking control of the Italian operator from CVC Capital Partners.

The deal cost Flutter £1.62bn ($1.97bn), to include all of Sisal’s debt, with Flutter financing the transaction through additional debt facilities agreed with Barclays Bank.

A statement from Flutter says: “The acquisition of Italy’s leading online gaming operator, in an attractive and fast-growing online market, is aligned to the group’s strategy of investing to build leadership positions in regulated markets.”

The company believes that the transaction will result in a combined share of 20% of the Italian online market, when Sisal’s operation is combined with Flutter’s PokerStars and Betfair brands.