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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