Sky News has learned that Flutter Entertainment, which recently moved its primary stock market listing to New York, is poised to finalize a major agreement with Playtech as early as Monday. The deal, valued at approximately £2 billion (or €2.3 billion), is said to match Playtech’s entire market capitalization.
Sources close to the matter suggest that while an announcement could be imminent, it may also be delayed until later this week.
Playtech’s shares surged on Monday morning following news of its settlement with Mexican company Caliente, resolving a long-standing dispute over significant payments. This agreement follows the recent sale of Playtech’s Italian subsidiary, Snaitech, one of Italy’s largest gambling operators. The sale leaves Playtech focused solely on its business-to-business software operations. Analysts predict that this shift could lead to a formal takeover bid in the near future.
Playtech shares were trading above 705p on Monday, reflecting a market value just over £2 billion. Snaitech, which operates under the Snai brand, reported a 5% increase in revenue to €946.6 million in the last fiscal year, maintaining its leadership in the Italian sports betting market.
Under the leadership of CEO Mor Weiser, Playtech has seen strong performance, buoyed by its expansion in the U.S. and the success of Snaitech. The company has been involved in a series of high-profile corporate maneuvers in recent years, including a rejected takeover bid by Aristocrat Entertainment in 2022 and a failed attempt to merge with London-listed 888, now known as Evoke, in the following year.
For Flutter, the potential deal represents the latest development in a strategic overhaul under CEO Peter Jackson. The company has been aggressively expanding its international footprint through acquisitions, with Snaitech being the latest target. Flutter has previously acquired Sisal, another major Italian gambling group, though it remains unclear whether Snaitech will be integrated with Sisal.
Both Flutter and Playtech declined to comment on the reports.
