REG - Flutter Entertainmnt - Completion of Sisal Acquisition

Flutter EntertainmentAnnouncement

05/08/2022 07:00

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RNS Number : 0137V  Flutter Entertainment PLC  05 August 2022

5 August 2022

 

Flutter Entertainment plc ("Flutter")

Completion of Sisal acquisition

Flutter is pleased to announce that it has received all necessary regulatory
confirmations with respect to the acquisition of Sisal and the transaction
completed on 4 August 2022.

As outlined in our transaction announcement (here
(https://www.flutter.com/media/cmtl2c0a/acquisition-of-sisal-italys-leading-online-gaming-operator.pdf)
), the acquisition of Italy's leading online gaming operator, in an attractive
and fast-growing online market, is aligned to the Group's strategy of
investing to build leadership positions in regulated markets.

Sisal has performed strongly since the transaction was announced with
year-on-year growth of 58% in revenue to £402m and 51% in EBITDA to £120m
during H1 2022(1). The prior year was impacted by Covid-related retail
restrictions.

The transaction has been completed using debt facilities agreed at transaction
announcement on 23 December 2021, bringing Flutter's expected weighted average
cost of debt to approximately 3.4% for H2 2022.

 

 

 

 

(1) growth rates on a constant currency basis

 

 

Contacts:

 Investor Relations:
 Paul Tymms, Director of IR and FP&A                + 44 75 5715 5768

 Ciara O'Mullane, Investor Relations                + 353 87 947 7862
 Liam Kealy, Investor Relations                     + 353 87 665 2014
 Press:
 Kate Delahunty, Director Corporate Communications  + 44 78 1077 0165
 Lindsay Dunford, Corporate Communications          + 44 79 3197 2959

 Rob Allen, Corporate Communications                + 44 75 5444 1363
 Billy Murphy, Drury Communications                 + 353 1 260 5000
 James Murgatroyd, Finsbury                         + 44 20 7251 3801

 

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