Flutter Acquire Exciting Italian Sportsbook Sisal For $2billion
Flutter is on another spending spree as they have acquired exciting Italian online sportsbook Sisal for a healthy sum of roughly $2billion. This is one of many online betting firms that Flutter have taken over, and recently; they have been coming to the industry for the latest new projects worth their money. Several new investment opportunities opened up in a matter of days, and the software development firm is keen to acquire more betting platforms to grow their portfolio. They are one of the most well-respected companies in all of Europe and America, and when they come knocking, you answer.
Flutter has acquired yet another European sportsbook. This time they have purchased Italian platform Sisal for a mouth-watering sum of $2billion. This is one of the largest acquisition deals in the history of European takeovers, the investment required for this project took years to formulate, and Flutter are more than thrilled to have landed the betting site. ©Tama66/Pixabay
Flutter is one of the world’s biggest software development companies. For years they have developed back-end systems, UI and GUI for many other technology companies, and they are held in high regard by the rest of the industry. They own some of the biggest online gambling platforms in the world, the main pillar of their inventory being Paddy Power, one of Europe’s most well-known betting sites. With one of the titans of the gambling industry at their disposal, they’ve been able to raise enough capital to acquire many other online platforms.
Sisal is the latest labour of love for Flutter Entertainment, and they’ve been following the businesses progress for quite some time. Founded in Milan, Sisal is undoubtedly one of the most exciting new sportsbooks to come out of Europe in years. They have remained fairly under the radar and have managed to build a strong foothold in the Italian market, making them such an attractive investment. The Italian betting scene is growing exponentially, and many venture capital firms, and investment groups are keen to get involved while they can.
The deal is still subject to many rules and regulations, and competition authorities are set to give the green light in the next few days. At this point, the deal is done. Flutter will acquire yet another online gambling firm and expand their European territory even further afield. The American software company’s influence over the European betting industry is undeniable as they control several key players, and many other competitors view them as unfair visitors.
Sisal’s Lucky Break
Despite their success, Sisal are still under a lot of pressure from the country’s regulators, and Flutter has decided to pick up the slack on their behalf. Recently the Italian government has been increasing the pressure on betting firms and eliminating any unlicensed sportsbook from existence. Police conducted an operation to arrest 12 gang members connected with an online betting firm being run out of Malta. The severity of the charges against the men involved was enough to discourage any other potential criminals from applying themselves in a life of illegal activity.
The price tag for Sisal is what many people find unbelievable. $2billion is a massive investment, and Flutter clearly has the cash to make it happen. Despite this, it is suspected that the software company will pay for the acquisition with loan money which they will then pay back over a lengthy period of time. This is to prevent a major loss in cash flow and reduce the collateral involved with the deal. Flutters accounting team are among the world’s best, and they’ve been working this deal for months, figuring out all the loopholes to make the operation as smooth as possible.
Sisal is happy to let Flutter take over the burden. They were recently hit with a $200,000 fine due to breaching advertising regulations in Italy, which is deemed a major offence by the country’s regulators. Despite the negative attention recently, Sisal still offers one of the most refined services in all of Italy. They have adapted a live casino model to perfectly sync with other new technological advancements such as augmented reality. Their user base has been going crazy over the latest developments, and many are excited to see where the firm goes next.
