Flutter acquires Playtech's Italian subsidiary for €2.3 billion

Flutter Entertainment, a leading global sports betting and gaming company, has acquired the Italian subsidiary of Playtech, a leading gaming technology company, for €2.3 billion.

The acquisition will strengthen Flutter's position in the Italian gaming market and provide it with access to Playtech's technology and products.

The acquisition is expected to close in the second half of 2023, subject to regulatory approvals. Once completed, the acquisition will make Flutter the largest online gaming operator in Italy.

Flutter Entertainment is a leading global sports betting and gaming company with operations in the UK, Ireland, Australia, the US, and Canada. The company offers a wide range of sports betting and gaming products, including sportsbook, casino, poker, and bingo.

Playtech is a leading gaming technology company that provides software and services to the online gaming industry. The company's products include casino games, sports betting, and lottery games. Playtech has operations in 24 countries and its products are available in over 100 languages.

The acquisition of Playtech's Italian subsidiary will strengthen Flutter's position in the Italian gaming market and provide it with access to Playtech's technology and products. The Italian gaming market is one of the largest in Europe, and it is expected to continue to grow in the coming years.

The acquisition is a major step for Flutter in its strategy to become the leading global gaming operator. The company has been investing heavily in its expansion in recent years, and it has acquired a number of companies to strengthen its position in key markets.