Flutter Entertainment PLC Completion of Sisal Acquisition (0137V)

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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 ), 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 GBP402m and 51% in EBITDA to GBP120m 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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August 05, 2022 02:00 ET (06:00 GMT)