Flutter Prepares to Seal Snaitech Purchase as Barriers Are Overcome
Flutter's Takeover of Snaitech On the Horizon
After securing all necessary regulatory and competition approvals, Flutter Entertainment is set to wrap up its purchase of Snaitech within the coming weeks – before the end of April. Originally announced last September, Flutter agrees to buy Snaitech from Playtech for a whopping $2.52 billion.
This deal will fortify Flutter's position in Italy, one of Europe's largest regulated gambling markets. Already operating well-known brands like PokerStars, Betfair, Tombola, and Sisal in the country, the acquisition of Snaitech will further fuel scale and solidify Flutter's dominance.
"The acquisition of Snai perfectly complements Flutter's strategy to dominate key international markets," Flutter said in a statement. "By providing access to Flutter's leading products and capabilities, we'll create value."
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Meanwhile, Playtech is making a strategic move by parcelling off Snaitech. For the company, this move signifies a shift in emphasis to its B2B business. Although it expects to retain some consumer-facing operations, Playtech plans to primarily focus on its technology-driven B2B gaming segment—which saw a 10% year-on-year revenue growth to $802 million in 2024.
"Closing the transaction will let Playtech concentrate on its technology-led offering in high-growth B2B gambling markets," the company stated. "With an accelerated growth plan and a broad portfolio of strategic ventures, we're positioning ourselves for even greater growth."
The sale of Snaitech empowers Playtech to streamline its business model, enabling it to focus on high-growth regions like the US and Latin America. So while Flutter prepares to make its mark in Italy, Playtech is gearing up to conquer new horizons.
By 2025, Flutter's technology-driven sports betting platforms, like PokerStars and Betfair, may expand further in Italy, as Regulatory approvals for its acquisition of Snaitech, a popular casino brand, are expected to be completed. This acquisition, valued at $2.52 billion, will contribute to Flutter's strategy of dominance in key international markets. On the contrary, Playtech, after offloading Snaitech, will concentrate on its B2B business, aiming for growth in high-potential markets such as the US and Latin America.
