Flutter Entertainment is reportedly close to finalizing a £2bn ($2.64bn) agreement to acquire the consumer division of Playtech, specifically its Italian subsidiary Snaitech, one of the country’s largest gambling operators.
The deal, anticipated to be sealed this week, follows earlier confirmations in August that Playtech was in discussions with Flutter over the potential sale of Snaitech.
If completed, this acquisition would be a significant milestone in Flutter’s continued expansion under CEO Peter Jackson’s leadership.
Meanwhile, Playtech has seen its shares rise by around 14%, following a settlement announcement with Caliente, a Mexican company, resolving a long-running payment dispute. Additionally, Flutter recently purchased a stake in Brazil’s NSX Group for approximately $350m.
With the sale of Snaitech, Playtech would transform into a purely business-to-business software provider. Under the guidance of CEO Mor Weiser, Playtech has been actively involved in various corporate developments, including a rejected acquisition bid from Aristocrat Entertainment in 2022 and talks with 888 (now Evoke) in 2023.
This acquisition would further strengthen Flutter’s presence in Italy, complementing its 2022 purchase of Sisal, another leading Italian gambling group.