Flutter Entertainment completes deal for Italy’s Sisal
Flutter is pleased to announce that it has received all necessary regulatory confirmations with respect to the acquisition of Sisal and the transaction completed on 4 August 2022.
As outlined in our transaction announcement, the acquisition of Italy’s leading online gaming operator, in an attractive and fast-growing online market, is aligned to the Group’s strategy of investing to build leadership positions in regulated markets.
Sisal has performed strongly since the transaction was announced with year-on-year growth of 58% in revenue to £402m and 51% in EBITDA to £120m during H1 2022. 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% for H2 2022.