Flutter has officially closed the deal to buy Snai, a big move in the gaming world. The €2.3 billion acquisition gives Flutter a major stake in Italy’s betting and iGaming scene. With this deal, the Flutter Snai acquisition boosts its online market share in a key European market.

• Flutter bought Snai from a Playtech subsidiary, paying a total enterprise value of €2.3 billion in cash. Snai will now be part of Flutter’s Southern Europe & Africa segment. The deal fits Flutter’s plan to grow in major international markets.

• The Flutter Snai acquisition increases Flutter’s share of the online betting market in Italy to about 30%. Italy is Europe’s largest regulated gambling market, and online adoption there is still growing. Snai’s retail network is seen as a key strength due to local ad restrictions.

• Snai adds a highly recognized local brand and a loyal customer base to Flutter’s portfolio. It strengthens Flutter’s position as a “local hero” brand in Italy. This also opens up more routes for customer acquisition in a regulated and competitive environment.

• Flutter expects to save at least €70 million in operating costs within three years by merging the two businesses. Capex synergies are projected at €10 million. These savings will come from combining systems, operations, and internal tech platforms.

• Revenue is also expected to grow by applying Flutter Edge tools like pricing tech, risk management, and in-house iGaming content. These will improve the customer experience for Snai users. The deal is expected to drive long-term value creation for shareholders.

• CEO Peter Jackson said: “Snai’s significant omnichannel presence brings strategically important assets to enhance Flutter’s position in Italy.” He added that the integration will now begin to unlock new growth.

• The acquisition was financed through existing debt facilities. Flutter said its leverage will rise in the short term but expects it to drop again thanks to growth across the business.