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UK's Playtech mulls sale of Italian unit to Flutter



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Changes sourcing in paragraph 1, adds shares in paragraph 3, CEO comments in paragraph 6, details throughout

Aug 14 (Reuters) - UK gambling technology firm Playtech PTEC.L said on Wednesday that it is in talks with Irish bettingfirm Flutter Entertainment FLTRF.L for the sale of its Italian unitSnaitech.

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% 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%.

It is unlikely a formal agreement will be reached until at least next month, the Sky News reportsaid.

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 newspaperreported on Tuesday that Flutter is believed to have made a formal offer for Betnacional, Brazil’s fifth biggest gambling operator.



($1 = 0.7784 pounds)



Reporting by DhanushVignesh Babu in Bengaluru and Padraic Halpin; Editing by Varun H K and Sonia Cheema

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