Flutter Entertainment Buys Snaitech From Playtech for $2.6 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 17 2024
0mins
Should l Buy FLUT?
Source: WSJ
Acquisition Announcement: Flutter Entertainment is acquiring Italian gambling company Snaitech from Playtech for 2.3 billion euros ($2.56 billion) as part of its strategy to expand in international markets.
Financial Impact: The deal is expected to be finalized by the second quarter of next year and will immediately enhance earnings per share.
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Analyst Views on FLUT
Wall Street analysts forecast FLUT stock price to rise
26 Analyst Rating
23 Buy
3 Hold
0 Sell
Strong Buy
Current: 141.370
Low
228.00
Averages
296.77
High
381.46
Current: 141.370
Low
228.00
Averages
296.77
High
381.46
About FLUT
Flutter Entertainment plc is an online sports betting and iGaming operator. Its segments include the United States (U.S.), United Kingdom and Ireland (UKI), Australia and International. The U.S. segment offers sports betting, casino, DFS and horse racing wagering products to players across various states in the United States, mainly online but with sports betting services also provided through retail outlets and certain online products in the province of Ontario in Canada. The UKI segment offers sports betting (sportsbook), iGaming products and other products through its Sky Betting & Gaming, Paddy Power, Betfair and tombola brands. Its Australia segment offers online sports betting products through its Sportsbet brand. The International segment includes its operations in 100 global markets and offers sports betting, casino, poker, rummy and lottery, mainly online. This segment includes Sisal, PokerStars, Snai, Betfair International, Adjarabet, MaxBet, Betnacional, and other brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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