Flutter Entertainment expects to complete its €2.3bn acquisition of Snai from a subsidiary of Playtech by the end of April.
The Paddy Power and FanDuel owner said it has received all necessary antitrust, gaming and regulatory confirmations to acquire the Italian omnichannel gaming operator.
“Adding Snai to the Flutter portfolio will consolidate Flutter's leadership position in Italy and create a position of increased scale to capitalise on the growth opportunity in Europe's largest regulated market,” a Flutter statement read.
Flutter will provide a further update on May 7 alongside its Q1 results.
“Completion of the transaction will enable Playtech to focus on its technology-led offering in high-growth B2B gambling markets with an accelerated growth plan and an extensive portfolio of strategic ventures,” Playtech said.
“The board believes that there is significant further upside from Playtech's simplified business model and focused B2B strategy going forward.”
The growth of Playtech’s B2B segment was the highlight of the company’s recent results release.
