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    Home»Deals & Transactions»Online betting group Flutter to buy Italy’s Sisal for $2.2 bln
    Deals & Transactions

    Online betting group Flutter to buy Italy’s Sisal for $2.2 bln

    December 24, 2021Updated:December 24, 20211 Min Read
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    FILE PHOTO: Flutter's logo is pictured on a smartphone in front of the stock graph displayed in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration
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    Betfair and Poker Stars owner Flutter Entertainment is to buy Italian gaming operator Sisal for 1.62 billion pounds ($2.16 billion) in a deal it said would more than double its share of the Italian online gaming market to around 20%.

    The Italian firm, which also runs retail and online gaming business in Turkey and Morocco and is in the race to run the UK National Lottery, is currently owned by CVC Capital Partners, which bought it in 2016.

    Sisal, which employs 2,500 people, expects to generate earnings before interest, taxes, depreciation, and amortisation of 248 million euros ($281 million) in the 12 months to December 2021, with 58% coming from its online offering, the statement said.

    Read more/Source: Reuters

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