Playtech has confirmed that it is in discussions with Flutter Entertainment about selling its Snaitech business for around £2bn.
Playtech said it has granted the FanDuel and Paddy Power owner a period of exclusivity to complete due diligence and finalise related transaction documentation.
“There can be no certainty that any transaction regarding the potential sale of the Snaitech business will ultimately be agreed, or as to its terms,” the company added. “Further announcements will be made as and when appropriate.”
In response, a Flutter statement also confirmed the talks with Snaitech and said it will “provide an update as appropriate.”
The statements come after Sky News reported on Wednesday that Flutter was eyeing a move for Playtech’s Italian business.
A deal would add to Flutter’s recent focus on the Italian market following its acquisition of Sisal in August 2022 for €1.9bn.
