Flutter Nearing Completion of Snaitech Acquisition

U.K. – April 22, 2025 – www.zonadeazar.com Flutter Entertainment Group acquired Snaitech, the operator owned by Playtech, in September last year for $2.52 billion. At the time, both Flutter and Playtech aimed to complete the transaction in the second quarter of 2025.

In its statement, Flutter reiterated that the deal will expand its portfolio of “local hero” brands in Italy, which already includes PokerStars, Betfair, and Tombola.

“The acquisition of Snai is fully aligned with Flutter’s strategy to invest in leading positions in attractive international markets. It creates value by providing access to Flutter’s market-leading products and capabilities,” the company said.

“Adding Snaitech to the portfolio will consolidate Flutter’s leadership position in Italy. It creates scale to capitalize on the growth opportunity in Europe’s largest regulated market.”

Playtech Focuses on B2B

As for Playtech, the group will continue to operate some B2C activities following the deal’s conclusion. However, its main focus will shift to B2B.

“Completion of the transaction will allow Playtech to focus on its technology-led offering in high-growth B2B gaming markets, with an accelerated expansion plan and a broad portfolio of strategic ventures,” Playtech stated.

Playtech achieved significant B2B gains in 2024, as revenue in the segment rose 10% year-over-year to €745.3 million, primarily due to growth in the U.S. and Colombia. The company also saw success in Canada, Italy, Spain, and the U.K.

“The board believes there is substantial upside in our simplified business model and forward-focused B2B strategy,” Playtech added.

Snaitech in 2024

In its 2024 results, Playtech reported that Snaitech’s revenue remained largely stable, with a 1% increase, partly due to customer-favorable sports outcomes.

Retail revenue was also stable, although betting sales in this segment rose 6%. However, revenue from retail gaming machines dropped 2%. Snaitech’s online revenue rose 3%, with casino compensating for weak sports betting results earlier in the year.

Total revenue from Playtech’s continuing operations in 2024 reached €848 million, a 10% increase. Including Snaitech, total revenue rose 5% year-over-year to €1.79 billion.

Edited by: @_fonta – www.zonadeazar.com