Flutter Acquires Italian Gaming Operator Snai for $2.56 Billion

The deal, expected to close by Q2 2025, will make Flutter the leader in Italy's online gaming market.

Flutter Entertainment, the parent company of FanDuel and Paddy Power, has agreed to buy Snaitech from Playtech for €2.3 billion ($2.56 billion).
The acquisition will give Flutter a 30% share of Italy's online gaming market, making it the country's largest gaming operator.
Italy, Europe's largest regulated gambling market, had an estimated gross gaming revenue of €21 billion in 2023, with relatively low online penetration.
Playtech plans to return up to €1.8 billion to shareholders through a special dividend following the sale.
Flutter expects to achieve $77.9 million in operating cost synergies over the first three years by integrating technology and content.