Flutter Entertainment (FLUT) said Wednesday it has secured antitrust, gaming, and regulatory approvals to acquire Italy-based omnichannel operator Snaitech from Playtech subsidiary in an all-cash deal estimated at an enterprise value of 2.30 billion euros ($2.53 billion).
The acquisition is part of Flutter's strategy to expand its footprint in international markets and leverage the growth opportunity in regulated European markets, the company said.
Flutter said it expects the deal to be completed by the end of this month and will offer more updates on May 7.
Shares of the company were up 2% in recent trading.
Price: 216.79, Change: +4.29, Percent Change: +2.02
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