Flutter Entertainment's Gaming Expansion

Flutter Entertainment, the parent company of FanDuel, is aggressively pursuing growth in international gaming markets. The company has recently made significant moves to bolster its presence in both Italy and Brazil, two markets with high growth potential.

• In Italy, Flutter is acquiring Snaitech from Playtech for €2.3 billion, adding to its existing Italian operations, including Sisal, a lottery and gaming operator acquired in 2022.
• In Brazil, Flutter is taking a 56% stake in NSX Group, which operates the Betnacional brand and holds the No. 4 position in the Brazilian gaming market.

Italian Gaming Market Growth

Italy's gaming market generated €21 billion in gross gaming revenue in 2023. Flutter's acquisition of Snaitech is expected to provide significant earnings per share boost due to Snaitech's almost 10% market share and nearly 300,000 monthly active users.

Brazil: A New Frontier for Gaming

Brazil is set to become a major player in the global gaming market. With regulated gambling going into effect in January 2025, Flutter is capitalizing on this opportunity. The country generated nearly $3 billion in gross gaming revenue in 2023 and is expected to experience further growth.

Competition Heats Up in Brazil

Flutter will face stiff competition in the Brazilian gaming market, with 113 companies vying for licenses. MGM Resorts has applied in partnership with Grupo Globo, and Bet365, a major global player, is already established in Brazil.

• DraftKings, FanDuel's main competitor in the U.S., is focusing on its domestic market for now.

Flutter's Strategy: Building a Global Gaming Empire

Flutter Entertainment's aggressive acquisitions demonstrate its ambition to become a dominant force in the global gaming industry. The company's focus on regulated markets in Europe and emerging markets like Brazil is a testament to its strategic approach.

• Flutter is seeking to build a portfolio of strong brands that can capitalize on the growing demand for online gaming and sports betting worldwide.

The Future of Global Gaming

The global gaming market is expected to continue growing in the coming years, driven by increasing adoption of online gaming platforms and the legalization of sports betting in various countries. Flutter is well-positioned to benefit from this trend with its strategic acquisitions and strong brand recognition.

• The company's investments in Italy and Brazil are a clear indication of its commitment to expanding its footprint in key gaming markets.