Flutter Entertainment CEO Peter Jackson hailed the omnichannel capabilities of Snai after the company completed its €2.3bn acquisition of the operator.
The operator, formerly Playtech’s flagship B2C asset, will form part of Flutter’s Southern Europe and Africa region within its International arm.
“Snai's significant omnichannel presence brings strategically important assets to enhance Flutter's position in Italy,” Jackson said.
“The transaction fits perfectly with our strategy for value creating M&A and is expected to bring about significant growth opportunities for Snai by providing access to Flutter's market leading products and capabilities.”
Flutter said Snai will prove a valuable asset by offering both retail and online opportunities. The operator’s “strong” retail presence in Italy will be a workaround to the market’s advertising restrictions that mean Snai has “significant online growth potential due to comparatively low online penetration rates.”
Flutter expects Snai to push its Italian online gaming market share to 30 per cent.
After selling Snai, Playtech is focusing on its B2B division. The sale has allowed the company to return around €1.8bn to shareholders.
