Download full report with analyst certification and important disclosures
Jan 19 2022, 07:05 GMT
The acquisition of Sisal and Flutter’s enhanced position in the attractive Italian online market highlight the unique position the group enjoys in the global gaming sector. It is one of a small handful of operators with the resources required to compete across dozens of individual international online markets. Successfully building leading local positions in these target geographies, a la its Sisal transaction, is a critical cog in its strategy and key to delivering superior earnings growth and cash generation relative to many other operators. Following a ‘deep-dive’ into the business and its strategic implications in this report, we reiterate our ‘Outperform’ recommendation.