Flutter Buys Sisal in $2.2 Billion Deal

by | Dec 24, 2021

The mergers and acquisitions in the sports betting industry continues to heat up. DraftKings top competitor FanDuel is getting even stronger. Their parent company  Flutter Entertainment has entered into a transaction to buy Italy’s oldest gaming operator Sisal in a deal valued at $2.2 billion making it the largest gambling deal of Q4.

CVC Capital Partners, one of the largest private equity companies bought Sisal for $1.1 billion in 2016. In 5 years they were able to double that value. For those who played poker online there’s a great chance you’ve played on PokerStars or bet on Betfair. Flutter owns that as well. Turning them into an ultimate gambling powerhouse.

This deal will also help supplement Sisal’s Matchpoint service, which is ne of the biggest betting sites in Italy. So far this year alone they’ve had over 300,000 events that could’ve been wagered on.

Fastball Holdings’ stake in Fanduel was bought out by flutter for $4.2 billion. This purchase increased their ownership to 95% from the previous 58%. Total deal value? $11.2 billion. 5 months ago they also agreed to sell their sports betting affiliate site Oddschecker to Bruin Capital for $215 million. In November 2021, they also agreed to acquire online bingo operator Tombola for $542 million.

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Recent Financial Results For Flutter The Largest Gambling Operator Online

Flutter generated $1.23 billion in revenue in Q3 2021, a 12% increase compared to the same period last year. However, the Ireland-based company lowered its full-year EBITDA guidance to $1.74 billion, down from $1.87 billion. Lower guidance is the result of sharps like Jon Price cashing in for his clients at a higher rate than books anticipated along with application fees in the Netherlands.

The process is expected to cost Flutter $13.6 million this year and $54.5 million in 2022.

Expect more major gambling acquisitions to be announced in 2022.


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