Flutter Acquires Snaitech from Playtech in $2.6B Deal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 17 2024
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Source: TipRanks
Acquisition Announcement: Flutter Entertainment PLC has agreed to acquire Italian gaming operator Snaitech S.p.A. for $2.6 billion, aiming to strengthen its market position in Italy and enhance its online operations, which will give it a 30% share of the Italian online market.
Market Reaction and Financial Impact: Following the announcement, Flutter's shares fell slightly in London but rose in pre-market trading on the NYSE; the acquisition is expected to boost earnings per share immediately and is set to be finalized by Q2 next year.
Analyst Views on FLTR
Wall Street analysts forecast FLTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FLTR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 25.550
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Current: 25.550
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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.
