Flutter Entertainment is on track to complete its purchase of Snaitech within the coming weeks, after receiving all outstanding regulatory and competition approvals. Both Flutter and Playtech issued statements confirming the progress, stating the deal will close before the end of April.
Originally announced in September last year, Flutter agreed to acquire Snaitech from Playtech for US$2.52 billion. The transaction had been awaiting clearance from gaming, antitrust, and other regulatory bodies. At the time of the agreement, both companies had targeted completion in the second quarter of 2025, a timeline that remains unchanged.
With this acquisition, Flutter plans to strengthen its presence in Italy—already one of the largest regulated gambling markets in Europe. The company currently operates other well-known brands in the country, including PokerStars, Betfair, Tombola, and Sisal, which it acquired in 2021.
“The acquisition of Snai fully aligns with Flutter’s strategy to invest in leadership positions in attractive international markets,” the company stated. “This creates value through providing access to Flutter’s market leading products and capabilities.”
Flutter added that adding Snaitech to its portfolio will help increase scale and reinforce its position in Italy’s gambling market.
Playtech Shifts Focus to B2B Strategy
For Playtech, selling Snaitech reflects a strategic shift. The company plans to concentrate primarily on its B2B business, although it will retain some B2C operations.
“Completion of the transaction will enable Playtech to focus on its technology-led offering in high-growth B2B gambling markets with an accelerated growth plan and an extensive portfolio of strategic ventures,” it said.
Playtech has seen progress in its B2B division, with revenue in that segment rising 10% year-on-year in 2024 to reach US$802 million. Growth in the U.S. and Colombia drove much of that increase, but the company also saw success in markets like Canada, Italy, Spain, and the UK.
Looking ahead, Playtech believes its streamlined business model will lead to even greater growth. “The board believes that there is significant further upside from our simplified business model and focused B2B strategy going forward,” it noted.
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