At what enterprise value was SNAITECH acquired in 2025?

During the acquisition of SNAITECH by FLUTTER ENTERTAINMENT in 2025, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of SNAITECH when it was acquired by FLUTTER ENTERTAINMENT?

The estimated EV/EBITDA multiple for SNAITECH is in the range of 5x - 12x.

When was SNAITECH acquired by FLUTTER ENTERTAINMENT?

SNAITECH was acquired by FLUTTER ENTERTAINMENT in 2025.

What was the revenue of SNAITECH at the time of the deal?

The revenue of SNAITECH at the time of the deal is estimated to be in the range of 500M - 1b EUR.

What was the EBITDA of SNAITECH during the acquisition?

SNAITECH's EBITDA is estimated to be in the range of 250M - 500M EUR.

How is the data for the SNAITECH acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the SNAITECH deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://snaitech.it/en/snaitech-joins-flutter-entertainment/

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Home Database Retail & ConsumerSNAITECH

06/2025

SNAITECH acquired by FLUTTER ENTERTAINMENT

ITALY Gambling & Betting EV 1b - 4b EUR

Context

Flutter Entertainment has finalized the acquisition of 100% of Snaitech S.p.A. from Playtech plc for a total cash consideration, marking a transformative expansion in the European gambling sector. This strategic acquisition is designed to catapult Flutter to the number one position in Italy, the largest gaming market in Europe, increasing its total market share in the country to approximately 30%. The strategic rationale centers on the perfect alignment of Snaitech’s premium Italian brand with Flutter’s international growth strategy, allowing the group to leverage Snaitech’s existing retail and digital infrastructure. For the seller, Playtech, the divestiture allows a strategic refocus on its core B2B technology offerings while returning significant capital to its shareholders. The deal reinforces Flutter's leadership in Western Europe and provides a robust platform for further digital migration in the Italian market.

SNAITECH, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.0x).

-> Deep-dive in Retail & Consumer market trends

Target

Snaitech S.p.A. is one of Italy’s premier omni-channel gambling operators, previously functioning as a key subsidiary of the technology firm Playtech plc. The company maintains a leading position in the Italian market, which is recognized as the largest gambling market in Europe. Snaitech’s business model is built on a sophisticated multi-channel approach, combining a powerful online presence with a vast physical retail network for sports betting, horse racing, and gaming machines. As the third-largest online operator in Italy at the time of acquisition, Snaitech controls approximately 10% of the digital market. Its value proposition is centered on its "Snai" brand, high-performance proprietary technology for professional betting, and a comprehensive suite of iGaming products. The company’s established infrastructure and local market expertise make it a critical asset in the highly regulated and competitive Italian gaming landscape.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

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2024

2023

Similar deals in Gambling & Betting

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
07/2026	BANIJAY GROUP	JOA	FRANCE	Gambling & Betting
05/2026	Fertitta Entertainment	Caesars Entertainment	UNITED STATES	Gambling & Betting
01/2024	GROUPE FDJ	KINDRED GROUP	SWEDEN	Gambling & Betting
11/2023	GROUPE FDJ	PREMIER LOTTERIES IRELAND (PLI)	IRELAND	Gambling & Betting
09/2022	GROUPE FDJ	ZETURF GROUP	FRANCE	Gambling & Betting
12/2020	GAMENET GROUP	LOTTOMATICA	ITALY	Gambling & Betting
10/2017	BLACKSTONE	JOA	FRANCE	Gambling & Betting

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 500M - 1b EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SNAITECH by FLUTTER ENTERTAINMENT are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: flutter entertainment