Tombola<\/a>, an online bingo operator in the UK. Both acquisitions are part of the company\u2019s continued interest in M&A activity across Europe, the Americas, Australia, and Africa.<\/p>\n<\/div>\nSisal will also boost Flutter through a deal it signed this year with Evolution. It gained access to the company\u2019s NetEnt and Red Tiger brands, providing an extension to a deal to offer Live Casino gaming options.<\/p>\n
Flutter Reaching Deep<\/h2>\n
Flutter\u2019s growth initiatives come at a small cost. It purchased Sisal using the agreed-upon credit lines when it announced the transaction last December. This raised the company\u2019s weighted average cost of debt to approximately 3.4% for the second half of 2022.<\/p>\n
The company is still in a good spot, though. Last year may have brought a decline in revenue, but 2022 is on the rebound. The first quarter of the year saw it report a 6% increase in combined revenue, mostly as a result of a strong performance in the US.<\/p>\n
Despite the climb, Fitch Ratings urges caution. Last month, it changed the company\u2019s outlook from stable to negative and lowered its Long-Term Issuer Default Rating (IDR). That change was a direct result of the Sisal acquisition.<\/strong><\/p>\nThere are also concerns about how the UK gaming market might impact the company\u2019s operations. It already announced a reduction in revenue as it implemented changes to tackle problem gambling.<\/p>\n
The impending gambling reform may cause another slide. Fitch forecasts that, between the reforms and Flutter\u2019s responsible gambling initiatives, it will lose around $120.86 million in gross revenue between now and next year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sisal is now officially part of the Flutter family of companies. The Italy-based Italian lottery and gaming operator adds to Flutter\u2019s ever-changing portfolio. Flutter began working on the $2.2-billion acquisition last year and announced that the two companies had reached an agreement in December. Next, it needed to secure all the regulatory permissions that would […]<\/p>\n","protected":false},"author":64,"featured_media":225295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,32093],"tags":[81919,13701,81966],"acf":[],"yoast_head":"\n
Flutter Completes Acquisition of Lottery Operator Sisal - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n