Flutter Entertainment has gradually expanded its presence in Italy, most recently with its pending €2.3bn ($2.2bn) purchase of Snaitech to help it establish control over 30% of the country’s online gambling market. It’s now reportedly eyeing up a bid for Italy’s national lottery contract.
The application deadline for a lottery bid is March 17, and it is unclear if Flutter will consider joining forces with another company. The Italian Agency for Customs and Monopolies believes the nine-year contract is worth €4.3bn ($4.1bn), and the smallest possible bid is €1bn ($966m).
Several entities, including Flutter and IGT, will reportedly be bidding
International Game Technology (IGT) has held the license for three decades, with the current arrangement ending in November. Several entities, including Flutter and IGT, will reportedly be bidding.
The Irish Times cited a source close to the matter who said that the main reason for Flutter’s interest in the central lottery license would be the opportunity it gives to cross-sell to customers. While Italy currently bans all forms of online gambling advertising, Flutter can let people scan the back of tickets to then access its other Italian gambling products.
Flutter already has a local lottery license with its Sisal subsidiary, which it bought for €1.9bn ($1.8bn) in 2022, through which it employs this cross-selling technique.
