お知らせ • Apr 30
Flutter Entertainment plc (NYSE:FLUT) completed the acquisition of (Italia) S.p.A from Playtech Services (Cyprus) Limited for an enterprise value of €2.3 billion.
Flutter Entertainment plc (NYSE:FLUT) agreed to acquire Pluto (Italia) S.p.A from Playtech Services (Cyprus) Limited for €2.3 billion on September 17, 2024. The deal has a cash consideration of €2.3 billion. The transaction excludes Pluto's subsidiaries excluding Trinity Bet Holding Limited and its subsidiaries (together with Trinity Bet Holding Limited, "HAPPYBET"). In case of termination of transaction, Flutter Entertainment plc will pay a termination fee of €100 million. As soon as practicable after the completion of the Transaction, Playtech intends to return €1,700 million - €1,800 million to shareholders by way of a special dividend (Shareholder Distribution). The final amount of the Shareholder Distribution will be determined with reference to the capital needs of the ongoing Playtech business. In connection with the Transaction, bonus awards have been made (the "Playtech Transaction Incentive Arrangements") for a maximum aggregate amount of €100 million to be paid to members of Playtech's senior team, including Playtech's executive directors; a separate aggregate cash bonus pool will be paid to the Snaitech senior management team of €34 million, of which Fabio Schiavolin (Chief Executive Officer of Snaitech) will be the largest participant.
For the period ending December 31, 2023, Pluto (Italia) S.p.A reported total revenue of €946.6 million, net income of €140.6 million and EBITDA of €254.5 million. As of December 31, 2023, Pluto (Italia) S.p.A reported total assets of €924.6 million and total common equity of €528.3 million.
The Transaction is subject to the satisfaction of certain antitrust, Gemeinsamen Glücksspielbehörde der Länder (the German gambling authority), other regulatory conditions and It is also conditional on the completion of the transfer of HAPPYBET by Snaitech to Playtech Cyprus (a subsidiary of the Playtech Group which is outside the perimeter of the Transaction). Transaction is not subject to shareholder approval. The transaction is expected to complete by Q2 2025, and it is expected to be immediately accretive to earnings per share. The transaction is expected to create shareholder value as follows: Delivers an enhanced competitive position in a fast growing, regulated market, enhances our “local hero” brand portfolio and presents a compelling opportunity to drive both cost and revenue synergies through access to the Flutter Edge, and deliver meaningful value creation. As of April 9 2025, Flutter Entertainment has received all necessary antitrust, gaming and regulatory confirmations to acquire Snaitech. Flutter expects the transaction to be completed by the end of April.
Daniel Burns and Ines Bedoya of Oakvale Capital LLP and Philip Noblet, James Liddy, Tim Lloyd-Hughes, and Thomas Bective of Jefferies International Limited acted as financial advisor for Playtech Services Limited. Maura McLaughlin, Conor McCarthy, Richard Ryan, David Kilty, Christopher O’Reilly, Simon Breen, David Kilty, Ian Duffy and Rory Curtis of Arthur Cox LLP and Arthur Cox London and Luca Andrea Frignani and Arnaldo Cremona of Chiomenti Studio Legale acted as legal advisor to Flutter Entertainment. Benjamin Lee, Nicholas Myatt, Tom Bacon, Kyle O'Sullivan, Andrew Hockley, Derek Hrydziuszko, Daniel Finch, Richard Shaw and David Dennison of Bryan Cave Leighton Paisner LLP and Bryan Cave Leighton Paisner (Australia) Pty Ltd acted as legal advisor to Playtech. Wells Fargo Securities, LLC acted as financial advisor to Playtech plc.
Flutter Entertainment plc (NYSE:FLUT) completed the acquisition of (Italia) S.p.A from Playtech Services (Cyprus) Limited on April 30, 2025.