Paddy Power owner Flutter in talks to buy software firm Playtech's Italian arm
![Takeover talks: Playtech shares soared 13.8% as it emerged Paddy Power owner Flutter has made an offer for Betnacional](https://i.dailymail.co.uk/1s/2024/08/14/22/88528449-13743641-Takeover_talks_Playtech_shares_soared_13_8_as_it_emerged_Paddy_P-a-1_1723669561615.jpg)
Takeover talks: Playtech shares soared 13.8% as it emerged Paddy Power owner Flutter has made an offer for Betnacional
Paddy Power owner Flutter is in talks to buy Playtech’s Italian arm.
A £2billion deal for Snaitech would add to Flutter’s sprawling empire.
The update came on the same day that it emerged Flutter has made a formal offer for Betnacional, Brazil’s fifth biggest gambling operator.
Both takeovers would mark the latest stage of Flutter’s corporate overhaul under chief executive Peter Jackson.
The Irish group moved its primary listing from London to New York in May after declaring the US its ‘natural home’.
Its US business Fanduel continues to dominate the sports betting market.
Playtech has been the subject of various takeover talks. In 2022, Australian rival Aristocrat mulled a deal, as did Evoke, formerly 888, in 2023.
Playtech develops and licenses software for online games and has enjoyed growth in the US.
Snaitech is a leader in Italy, where Flutter has made a mark, buying Italian lottery operator Sisal for £1.6billion two years ago.
Flutter revealed on Tuesday that group revenues hit £2.8billion in the three months to the end of June.
Profits more than doubled to £231million.
Playtech shares soared 13.8 per cent, or 74p, to 612p.
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