Leading betting and gaming operator Flutter Entertainment on Friday announced it has completed its acquisition of Italy’s Sisal.

Addressing the public, Flutter said it secured all necessary regulatory confirmations for the acquisition and was able to close the deal on Thursday (yesterday).

The €1.91 billion deal was first announced in December 2021. Flutter had said it was of the group’s strategy to invest in building leadership positions in regulated markets.

Sisal is well known in Italy due to it holding the national concession to operate the country’s lottery, as well as those of Morocco and Turkey.

Its operations in Italy also extend to betting and gaming, as well as in Spain through a partnership with Sportnco.

Sisal has performed strongly since the transaction was announced with year-on-year growth of 58 per cent in revenue to £402m and 51% in EBITDA to £120m during H1 20221. The prior year was impacted by Covid-related retail restrictions.

The transaction has been completed using debt facilities agreed at transaction announcement on 23 December 2021, bringing Flutter’s expected weighted average cost of debt to approximately 3.4 per cent for H2 2022.

Continue Reading

Gavin Isaacs steps down as Games Global chairman to take on new role as Entain CEO

22 July 2024
by iGamingCapital.mt

His appointment comes into effect from September 2024, and will see him remain on the board of Games Global as an independent non-executive director

Third-largest cryptocurrency exchange OKX selects Malta as its MiCA hub

18 July 2024
by Helena Grech

Under the MiCA framework, OKX plans to offer spot trading (including EUR and USDC pairs) in addition to buy, sell, convert and staking services to qualified EU residents through Okcoin Europe Ltd

GO’s Enterprise Solutions geared to deliver end-to-end business technology

15 July 2024
by Rebecca Anastasi

The telecoms firm prioritises holistic and scalable solutions for its corporate clients, says Arthur Azzopardi, Chief Officer at GO Business.

An unparalleled ecosystem for digital nomads

12 July 2024
by Ramona Depares

The Nomad Residence Permit offers non-EU employees a chance to experience Malta’s unique lifestyle, as an ideal remote work destination

See more