Flutter Entertainment PLC Announces Acquisition of Snaitech
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September 18, 2024 4:11 PM EDT
BTIG analyst Clark Lampen reiterated a Buy rating and $249.00 price target on Flutter Entertainment (NYSE: FLUT).
The analyst comments "Yesterday morning, Flutter announced the acquisition of Snaitech S.p.A. -- an Italian omnichannel gaming operator -- for 2.3B (~$2.53B). The deal is expected to close in 2Q25 and against 256M of '23A EBITDA the headline purchase multiple is ~9.0x. When we include the PV of expected cost synergies (70M; fully realized in Y3), the multiple drops to... More
September 17, 2024 10:20 AM EDT
Barclays analyst Brandt Montour reiterated an Overweight rating and $263.00 price target on Flutter Entertainment (NYSE: FLUT).
The analyst comments "We are favorable toward this acquisition, based in part on the unique attributes of the Italian market. With 21b of total TAM and only 21% online... More
