UK’s Playtech mulls sale of Italian unit to Flutter

:UK gambling technology firm Playtech said on Wednesday that it is in talks with Irish betting firm Flutter Entertainment for the sale of its Italian unit Snaitech.
Sky News had earlier reported that FanDuel owner Flutter was in talks to buy Snaitech, one of Italy’s largest gambling companies, in a deal that could be worth 2 billion pounds ($2.57 billion).
Playtech’s shares jumped 19 per cent to their highest level since March 2022 on the potential deal. London-listed shares of Flutter, which reported upbeat results late on Tuesday, rose 8 per cent.
It is unlikely a formal agreement will be reached until at least next month, the Sky News report said.
Flutter declined to comment on the report.
“There’s a long list of potential acquisition opportunities for Flutter to expand internationally” CEO Peter Jackson told Reuters on Tuesday without providing further details.
Separately, The Times newspaper reported on Tuesday that Flutter is believed to have made a formal offer for Betnacional, Brazil’s fifth biggest gambling operator.
($1 = 0.7784 pounds)