The probability of a Flutter bid to take on the Italian Lotto tender is growing by the day, judging from the company’s latest earnings call.

The €4bn, nine-year contract will be up for grabs after the current licence agreement under International Game Technology Group Plc (IGT) expires in November 2025.  

A lucrative opportunity, it is expected that the bidding process due to conclude on 17 March will attract a number of high-level international players, one of which is NYSE-listed Flutter. 

Flutter already holds a significant share of the Italian market thanks to its Sisal and Snaitech brands, which it acquired for €1.9bn and €2.3bn respectively within two years apart. Combined, both brands make up around 30% of online betting in Italy.

Sisal operates the Italy-facing SuperEnalotto product and currently attracts 30 million customers across its entire product suite, while Snaitech boasts a strong multi-product portfolio that is equally tailored to meet all demands of Italian consumers.

This, coupled with a strong financial momentum coming out of FY2024, makes Flutter a likely candidate for the Italian Lotto bid.

Peter Jackson, CEO of Flutter, has also been previously vocal about the possibility of the company participating in the tender process this year, with his intentions being more apparent during the company’s latest earnings call. 

Responding to a question from analyst Clark Lampen about where does Flutter currently stand on the matter, Jackson – while refraining from confirming anything – said that given the gambling firm’s consistent growth in Italy, particularly through Sisal and the cross-selling opportunities it provides, there is a real chance to see a Flutter bid for the biggest lottery license in Italy.

“We’ve been very pleased by the way in which we’ve been able to run the SuperEnalotto product. I think Sisal has done a brilliant job in terms of activating cross-selling at the online channel and driving benefits in that,” the CEO commented.

“There is an opportunity to bid for the Lotto. We are putting our thoughts together on that. We’ve got a couple of weeks to decide what we’re going to do.”

The ultimate factor that would lead Flutter on to the bidding table would be the prospects of good financial returns, Jackson added.

But given the Italian Lotto’s current 21 million weekly player base, and the €8bn generated in ticket sales for 2023, the financial appeal of the license is clear – which was also highlighted by Rob Coldrake, Flutter’s Chief Financial Officer, during the earnings call. 

“We think there’s a huge opportunity there,” he said. 

However, if Flutter does decide to take the leap, it will be facing fierce competition, with the previous licence holder IGT having already confirmed that it will also participate in an effort to extend its concession which has run for 30 years.

https://lotterydaily.com/2025/03/07/business/flutter-considering-igt-counter-bid-for-italy-lotto-tender/