Flutter Entertainment plc (LON:FLTR) has announced that it has received all necessary regulatory confirmations with respect to the acquisition of Sisal and the transaction completed on 4th August 2022.
As outlined in our transaction announcement, 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 Entertainment’s expected weighted average cost of debt to approximately 3.4% for H2 2022.
1 growth rates on a constant currency basis