Tag Archives: Italy

Flutter completes Sisal takeover to refresh its Euro vision

SBC News Flutter completes Sisal takeover to refresh its Euro vision

Flutter Entertainment Plc has this morning announced that it has completed its acquisition of Italian gambling group Sisal SPA for €1.9 bn (£1.6/$2.2bn).  On 23 December 2021, Flutter declared to markets that it had secured definitive terms with US PE fund CVC Capital Partners to acquire all assets (lottery, online and retail) of the heritage Italian gambling group. The acquisition …

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Lottomatica nets 6x EBITDA jump as new Italian powerhouse 

SBC News Lottomatica nets 6x EBITDA jump as new Italian powerhouse 

An enlarged Lottomatica Group, formed by the merger of Lottomatica Scommese and GoldBet Italia, has declared a stellar H1 trading period.  Having emerged as Italy’s largest betting group, Lottomatica reported a quadrupling of group revenues from 2021 results of €178m to €800m recorded during H1 2022. The 4X growth in headline revenues was attributed to the group’s enlarged retail portfolio …

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Draghi exit sees Italy stumble on long-sought gambling reforms 

SBC News Draghi exit sees Italy stumble on long-sought gambling reforms 

Italian gambling’s regulatory affairs have been left in limbo following last week’s resignation of Prime Minister Mario Draghi, which signals the likely break-up of Italy’s coalition government.  Chaos followed Mario’s resignation, as President Sergio Mattarella called for Parliament to be dissolved and for a snap General Election to be brought forward to 25 September – a year ahead of schedule. …

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Fresh hope for Italian gambling reforms as Parliament ends licensing limbo

SBC News Fresh hope for Italian gambling reforms as Parliament ends licensing limbo

Positive regulatory developments in Italy have seen bookmakers end their licensing limbo, as Parliament has allowed concessions to be extended for a further two years until 2024.  Italian ministers agreed to override gambling regulator ADM, the Customs and Monopolies Agency’s review of licence concessions that had been botched during 2021 – which saw the franchisees of Snaitech, Lottomatica, Sisal, SKS365 …

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ADM orders Italian operators to drastically improve PVR management duties

SBC News ADM orders Italian operators to drastically improve PVR management duties

Italy’s ADM, the Agency of Customs and Monopolies, has notified licensed operators and retail merchants that it will apply new measures to control Punto Vendita Ricarica (PVR) – retail points of sale for gambling concessions.  The government agency charged with gambling regulation and oversight stated that it wanted to apply a better monitoring of PVRs offered by Internet cafes, bars, …

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ADM ordered to clarify laws on esports gaming venues

SBC News ADM ordered to clarify laws on esports gaming venues

Italy’s Agency of Customs and Monopolies (ADM) has caused uproar in the esports community by shutting down three ‘digital entertainment venues’ located in the North of Italy.  The government agency that oversees gambling policies across Italy’s 20 regional provinces shut down the ‘three gaming halls’ that were deemed to have ‘lacked any form of authorisation, licence and concession’. The venues …

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Italy’s fiscal ministries ponder 1% betting turnover tax charge 

SBC News Italy’s fiscal ministries ponder 1% betting turnover tax charge 

To the dismay of Italian bookmakers, Valentina Vezzali, Undersecretary for Sports, has secured a debate on the introduction of a fixed 1% tax on betting turnover. The Sports Minister is reported to have held a meeting with Italy’s fiscal ministries to examine a further tax rise on betting incumbents. In attendance were representatives of Italy’s Treasury and gambling regulator ADM …

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888 nets 5x profit jump ahead of critical B2C portfolio enlargement 

SBC News 888 nets 5x profit jump ahead of critical B2C portfolio enlargement 

888 Holdings has branded 2021 as a year of ‘strategic progress’, in which the company has realised its transformative objective to become a global leader in online betting and gaming.  Full-year 2021 trading saw 888 register record group revenues of $980 million, up 15% on corresponding FY2020 results of $850 million. Headline growth was achieved despite 888 countering “$70-100 million …

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Italy: Points of conflict stand on path to gambling reorganisation 

SBC News Italy: Points of conflict stand on path to gambling reorganisation 

Italian gambling has been notified of progress on the regulatory front, as state auditor Ragioneria dello Stato has approved the draft ‘reorganisation plan’ of the sector prepared by Italy’s Ministry of the Economy and Finance.  Securing its progress, the plan has been forwarded to the government, which will review proposed amendments to ratify a bill that will be designated to …

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Flutter bears £288m loss as FY2021 stumbles on Stars M&A impairment

SBC News Flutter bears £288m loss as FY2021 stumbles on Stars M&A impairment

Flutter Entertainment Plc maintains confidence in expanding its leadership position across  all global markets, despite declaring full-year operating losses of £288 million.   The FTSE100 betting group detailed that its full year group revenue increased by 37% to £6.04 billion (2020: £4.4bn), although group EBITDA declined by 6% to £723 million from the previous year’s figure of £772 million.  In particular, …

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