Flutter secures green light for €2.3 billion Snai deal
Flutter Entertainment has received all necessary regulatory and antitrust approvals for its planned acquisition of Italy-based gambling operator Snaitech (Snai), clearing the final hurdle for the €2.3 billion ($2.52 billion) transaction. The deal is expected to close by the end of April, with further updates set for Flutter’s Q1 2025 earnings on 7 May.
Final approvals completed
First announced earlier in 2025, the acquisition will see Flutter buy Snai from a subsidiary of Playtech. The green light from authorities allows Flutter to move forward with its strategy to strengthen its presence in key regulated international markets. Italy is the largest regulated gambling market in Europe by gross gaming revenue (GGR), making it a critical focus for global operators.
Expanding reach in Europe
Flutter said the acquisition will give access to a wider customer base and increased operational scale in Italy. Snai, one of the country’s top omni-channel gambling brands, will also have access to Flutter’s proprietary technology, content, and global expertise.
This deal marks another milestone in Flutter’s push to expand its international footprint. The company added Serbian operator MaxBet to its portfolio in 2023 and continues to invest in markets outside the US.
Strong financial performance
Flutter enters the Snai deal on the back of strong financial results. For the full year of 2024, it reported $14.05 billion in total revenue and a 113 percent increase in net income year-on-year. Its ex-US division generated $2.2 billion in revenue, driven by favourable sports betting margins and strong iGaming growth, especially in the UK and Italy.
For 2025 Flutter has set a revenue guidance for its ex-US operations at up to $8.45 billion along with a projection of 10 percent increase in adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year.
Strategic fit with market goals
The Snai acquisition aligns with Flutter’s broader strategy to lead in regulated gaming markets. Flutter says that integrating Snai into its portfolio will enable it to grow its local market share and introduce new innovations to Italian players.
Snai’s established brand and retail presence in Italy complement Flutter’s digital strengths. The combination is expected to enhance customer engagement and product delivery across multiple channels.
