Flutter Entertainment, a major player in the international gambling market, has recently made a significant move by acquiring Snaitech from Playtech for €2.3 billion. This deal is part of Flutter’s strategy to establish a strong presence in key markets, with Italy being a focus area. The acquisition of Snaitech will complement Flutter’s existing portfolio in Italy, which includes other popular brands like PokerStars, Betfair, Tombola, and Sisal. Analysts are optimistic about the deal, predicting that Flutter’s market share in Italy could double once the acquisition is finalized.
In the UK, the Betting and Gaming Council (BGC) has raised concerns about the growing black market for gambling. A recent survey commissioned by the BGC revealed that up to £2.7 billion is wagered annually with illegal operators in the UK. This represents a significant portion of the total amount staked with regulated online gambling operators. The BGC has warned about the risks associated with unregulated gambling and the potential tax losses for the government.
Meanwhile, the Netherlands is moving forward with a tax hike for gambling operators, despite warnings from the government about its potential impact. The tax rate is set to increase to 37.8% of gross gaming revenue by 2026, up from the current rate of 30.5%. This move is expected to generate additional tax revenue for the government but could also drive some operators out of the market. There are concerns that the tax hike may lead to an increase in black market gambling as operators look to offset the higher costs.
Additionally, La Française des Jeux (FDJ) has received regulatory approval for its acquisition of Kindred Group, with the acceptance period for the deal being brought forward to October 2. The €2.45 billion bid by FDJ to acquire Kindred is a significant development in the gambling industry. However, the French Competition authority has raised concerns about potential risks associated with FDJ promoting Kindred’s products to its lottery monopoly customers. This highlights the need for responsible marketing practices in the gambling sector to protect consumers.
Overall, these recent developments in the European gambling market underscore the challenges and opportunities facing operators in an increasingly complex regulatory landscape. As the industry continues to evolve, companies will need to navigate changing regulations, market dynamics, and consumer behaviors to ensure sustainable growth and compliance with legal requirements.
