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Flutter Entertainment plc completed its acquisition of Sisal, Italy's online gaming operator, on 4 August 2022, following receipt of all necessary regulatory confirmations. The transaction was funded by debt facilities agreed on 23 December 2021, bringing Flutter's expected weighted average cost of debt to approximately 3.4% for H2 2022. Sisal reported H1 2022 revenue of £402m, a 58% year-on-year increase, and EBITDA of £120m, a 51% year-on-year increase, with the prior year impacted by Covid-related retail restrictions.
| Date | 5 Aug 2022 |
| Time | 07:00:06 |
| Category | Acquisitions and alliances |
| ID | 0137V |
5 August 2022
Flutter Entertainment plc ("Flutter")
Completion of Sisal acquisition
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 (here), 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 20221. 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.
1 growth rates on a constant currency basis
Contacts:
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Investor Relations: |
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Paul Tymms, Director of IR and FP&A Ciara O'Mullane, Investor Relations |
+ 44 75 5715 5768 + 353 87 947 7862 |
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Liam Kealy, Investor Relations |
+ 353 87 665 2014 |
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Press: |
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Kate Delahunty, Director Corporate Communications |
+ 44 78 1077 0165 |
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Lindsay Dunford, Corporate Communications Rob Allen, Corporate Communications |
+ 44 79 3197 2959 + 44 75 5444 1363 |
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Billy Murphy, Drury Communications |
+ 353 1 260 5000 |
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James Murgatroyd, Finsbury |
+ 44 20 7251 3801 |