FanDuel parent Flutter looks for international growth with big acquisitions in Italy, Brazil [CNBC]
MGM Resorts International (MGM)
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Source: CNBC
It also announced a major deal in Brazil last week, as Flutter looks to a range of international markets for growth. Italy is the largest regulated gaming market in Europe, while Brazil will become a regulated market next year. FanDuel parent Flutter Entertainment will spend $2.6 billion (2.3 billion euros) to acquire Italian gambling company Snaitech from Playtech , adding to a string of deals that aim to boost international growth. In an email to CNBC, a Flutter spokesperson said the company is "hugely excited" to add another leading brand to its portfolio "in what is Europe's largest regulated market." The deal comes as Flutter pushes to invest in the top companies in regulated markets around the world. Last week, the company made a major move into Brazil — which will have regulated gambling starting in January — when it bought a majority stake in NSX Group. Italy is a particularly attractive market for Flutter, as it had about 21 billion euros in gross gaming revenue in
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