Irish-Based Gaming Giant Flutter Outbid By IGT To Operate Italy’s Main Lottery License

Irish-based gaming superpower Flutter have been outbid by International Gaming Technology (IGT) to run one of the world’s most lucrative lottery licenses.

IGT Lands €2.23 Billion Deal To Operate Italian Lotto

Italy’s national lottery license is one of the most lucrative on the planet, valued at an estimated €1.5 billion and the country’s Customs and Monopolies Agency had set a minimum tender bid of €1 billion.

IGT’s winning bid is set to be paid in three instalments between now and April 2026, with the first two of €500 million and €300 million to be submitted before the end of the calendar year.

IGT will now hold the LottoItalia license for nine years, which is expected to generate €4.3 billion in revenue. The Las Vegas-based firm has operated the Italian lottery since 1993 and will continue to do so.

Over a six-year period between 2016 and 2022, IGT contributed €9.6 billion in tax – an average of €1.6 billion per year.

Since IGT took over operations in the 1990s, LottoItalia has grown significantly with reported collections rising from €2.5 billion to €7.6 billion in 2022.

Flutter Dealt Significant Blow In Bid To Expand Across Italy

Flutter has been targeting the Italian markets for some time now. Back in 2021 it acquired Sisai – a major Italian gaming firm and operator of the Tunisian and Moroccan national lotteries.

Internationally, Flutter has been expanding everywhere you look – securing Georgia’s Adjarabet in 2019 and investing $350 million in Brazil’s Betnacional last year.

Not to mention one of the leading USA online casinos in FanDuel.

Joe Lyons

Joe Lyons is a betting industry writer for GamblingIndustryNews with years of experience on reputable gambling websites. Joe specialises in long form content in the world of sports betting and gambling. Joe is recognised as an expert in sports fields such as horse racing, soccer, NFL and NBA.