Entain has made a more than $1 billion approach for Estonian gambling company Olympic Entertainment Group, Bloomberg News reported on Friday.

Olympic Group is one of the few remaining assets of London-based Novalpina Capital, which owns NSO Group, developer of the controversial Pegasus spyware tool.

Olympic has operations in countries including Estonia, Latvia, Lithuania, Slovakia and Italy. Entain is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector. Tax resident in the UK, with licenses in 27 countries, the Group employs a workforce of more than 24,000, in 20 offices across five continents.

In the US the Group operates BetMGM, a joint-venture with MGM Resorts, created to capitalise on the opportunities presented by the regulation of sports betting and gaming.