Add-on Acquisition • Gaming

Flutter Entertainment Acquires Sisal

On December 23, 2021, Flutter Entertainment acquired gaming company Sisal from CVC Capital Partners for 1.9B EUR

Acquisition Context
  • This is Flutter Entertainment’s 3rd transaction in the Gaming sector.
  • This is Flutter Entertainment’s largest (disclosed) transaction.
  • This is Flutter Entertainment’s 1st transaction in Italy.

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M&A Deal Summary

Date December 23, 2021
Target Sisal
Sector Gaming
Buyer(s) Flutter Entertainment
Sellers(s) CVC Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.9B EUR

Target Company

Sisal

Milan, Italy
Sisal is an operator in the Italian gaming market as a government licensee. Through its capillary network of 47,000 points of sale, the company in excess of 500 payment services to the Italian public which are still primarily reliant on traditional cash payments. Sisal is based in Milan, Italy.
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Buyer Overview 1

Buyer

Flutter Entertainment

New York, New York, United States

Category Company
Founded 1958
Sector Gaming
Employees23,053
Revenue 14.0B USD (2024)
DESCRIPTION

Flutter Entertainment is a betting and gaming company. Flutter Entertainment was founded in 1958 and is based in New York, New York.


Deal Context for Buyer #
Overall 6 of 7
Sector: Gaming 3 of 4
Type: Add-on Acquisition 4 of 4
Country: Italy 1 of 2
Year: 2021 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 FairPlay Sports Media

London, United Kingdom

FairPlay Sports Media is a tech-led sports media network with a mission of leveling the playing field for sports bettors, in turn deriving more engaged, qualified customers to operator, media and distribution partners. FairPlay Sports Media is based in London, United Kingdom.

Sell £155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-30 Snaitech

Milan, Italy

Snaitech is an Italian gaming company involved in the horse and sports betting segment. The company's other operations include amusement with prizes (AWPs), video lottery and online skill games. Snaitech was formed in 1990 and is based in Milan, Italy.

Buy €2.3B

Seller Profile 1

SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


Deal Context for Seller #
Overall 166 of 181
Sector: Gaming 4 of 4
Type: Add-on Acquisition 61 of 69
Country: Italy 6 of 6
Year: 2021 15 of 15
Size (of disclosed) 12 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-23 Mooney

Milano, Italy

Mooney is a payment services operator with an extensive proximity network. Mooney is based in Milano, Italy.

Sell €1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-28 Gaming1

Liege, Belgium

Gaming1 is a Belgian company for both land-based and online games of chance (casino games, sports betting services and poker). Gaming1 is based in Liege, Belgium.

Buy -

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