Key points:
- Flutter could be set to enter a joint Italian lottery bid with Scientific Games
- Flutter did not comment but referred us to comments from its Q4 conference call
Flutter has not given comment on growing information that it has reached an agreement to enter a joint Italian lottery bid, via its Italian lottery brand, Sisal, with Scientific Games and private equity firm Brookfield, after Gambling Insider reached out regarding the potential collaboration.
The operator directed us to a quote given during its analyst call last week, when CFO Rob Coldrake stated: “We're not going to talk about our bidding strategy. It's commercially sensitive. We will be very disciplined and to the extent that we go ahead, we will put on as good a show as we can.”
Gambling Insider has also reached out to Scientific Games for comment.
The potential bid has emerged following Flutter’s acquisition of Pluto (Italia), the parent company of online casino operator Snaitech, in early March. The deal, which still requires final approval from regulators, was met by concern by local campaigners, who feared the operator may engage in cross-selling between Snaitech and Sisal, a commercial strategy labelled “harmful and aggressive” by the opposition.
Analysts reached out to Gambling Insider with expectations that this would be discussed in the operator’s Q4 earnings conference call; an expectation that was proven correct.
Indeed, in the call, during which Flutter reported FY24 revenue of $14.05bn and a net income of $162m, up 113%, CEO Peter Jackson stated that the operator would continue “pulling thoughts together” before making its decision on the lottery application, which has a deadline of 17 March.
However, this latest news suggests that the decision has already been made and has been made alongside international lottery provider Scientific Games. The provider recently signed a 10-year contract as the New Mexico Lottery provider, and is also a longstanding partner with operators such as FDJ and Allwyn – the UK national lottery licence holder.
While the deal has not been confirmed, the deal would allow the operator and provider to both gain access to Italy’s national lottery licence. Much like Flutter, Scientific Games has access to a wide range of products and services, which may raise further “harmful and aggressive” commercial strategy concerns from the opposition.
