At what enterprise value was SNAITECH acquired in 2025?

During the acquisition of SNAITECH by FLUTTER ENTERTAINMENT in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.0x, providing a valuable benchmark for this transaction.

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. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.0x. Join our community for free to access full valuation data and industry trends.

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. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of SNAITECH during the acquisition?

SNAITECH's EBITDA is estimated to be in the range of 250M - 500M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

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

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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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.

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2024

2023

Similar deals in Retail & Consumer

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
01/2024	GROUPE FDJ	KINDRED GROUP	SWEDEN	Gambling & Betting	Groupe FDJ has launched a recommended public tender offer to acquire 100% of the share capital of Kindred Group. The offer, made at 130 SEK per share, represents a significant premium over Kindred’s historical trading prices (24% over the last closing price and 35% over the 30-day VWAP)
11/2023	GROUPE FDJ	PREMIER LOTTERIES IRELAND (PLI)	IRELAND	Gambling & Betting	Groupe FDJ has finalized the acquisition of 100% of the share capital of Premier Lotteries Ireland (PLI) for a total consideration representing a strategic move into the international lottery market. This acquisition marks FDJ’s first major venture as a foreign national lottery operator, securing the exclusive rights to the Irish National Lottery through 2034
09/2022	GROUPE FDJ	ZETURF GROUP	FRANCE	Gambling & Betting	Groupe FDJ announced the acquisition of 100% of ZEturf Group to strategically enter the online horse racing and poker markets. This transaction is a key component of FDJ’s broader ambition to become a dominant player in the competitive online gaming sector, moving beyond its traditional lottery roots
12/2020	GAMENET GROUP	LOTTOMATICA	ITALY	Gambling & Betting	IGT’s Italian B2C businesses has been acquired by Gamenet Group, a subsidiary of the Apollo-backed Gamma Bidco. Strategically, this acquisition marks the creation of the undisputed market leader in the Italian gaming sector, effectively doubling the group’s size and significantly enhancing its competitive moat across online and retail channels

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: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: flutter entertainment