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

Protect your cryptocurrency with these five expert tips

29 March 2024
by iGamingCapital.mt

'Hacks, scams and rug pulls not only pose a threat to individual investors but cast a shadow on the broader narrative of cryptocurrency as a revolutionary force in finance'

Safeguarding Malta’s business ecosystem: Geraldine Spiteri Lucas discusses recent changes at the MBR

28 March 2024
by Ramona Depares

'Processes have been re-engineered to specifically make it easier for companies to fulfill their reporting responsibilities’

Is the 4-day work week a trend or a reality?

27 March 2024
by iGamingCapital.mt

While the idea is certainly catching on, the big question remains whether it will become a standard and what consequences impacts this working arrangement will have

Responsible online gambling in Malta: Measures and practices in the online gambling sector

26 March 2024
by iGamingCapital.mt

Responsible gambling means being aware of the risks involved and taking care to never bet more than you can afford to lose

See more