Flutter Buys Italian Gaming Operator Sisal for $2.2 Billion (1)

Flutter Entertainment has struck a deal to buy Italian gambling operator Sisal in a 1.62 billion-pound ($2.2 billion) deal, marking the second major takeover by the U.K. firm in as many months.

Flutter will buy Sisal, Italy’s oldest gaming company, from CVC Capital Partners Fund VI, according to a statement Thursday, and the all-cash deal will likely close in the second quarter of 2022.

The takeover marks yet another merger in the rapidly consolidating gambling industry, sparked by the U.S. Supreme Court’s liberalization of gambling laws, which has spurred competitors to undertake a land grab for customers.

In November ...