Simpson Thacher represented Flutter Entertainment plc on the refinancing of its €2,500 million bridge facility for the acquisition of Snaitech S.p.A., one of Italy’s leading omni-channel operators, from Playtech plc. The refinancing included a Rule 144A and Regulation S offering of $1 billion of 5.875% Senior Secured Notes, €550 million of 4% Senior Secured Notes and £450 million of 6.125% Senior Secured Notes, as well as an upsize of $750 million in Flutter’s existing term loan facility. The offering closed on June 4, 2025.
Flutter is the world’s leading online sports betting and iGaming operator. Flutter operates a diverse portfolio of leading online sports betting and iGaming brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, Tombola, Betfair, MaxBet, Junglee Games and Adjarabet. Following the Snaitech acquisition, Flutter has reinforced its market position in Italy.
The Simpson Thacher team included Gil Strauss, Shahpur Kabraji, Iakovos Anagnostopoulos, Charley Xu, Julia T. Szinovatz, Rachel Roberts, Yun Kei Chow and Lampros Anastasopoulos (Finance and Capital Markets).