Sky News has learnt that Flutter, which recently shifted its primary stock market listing to New York, could strike a formal agreement with Playtech as soon as Monday.

One insider cautioned that an announcement could be delayed until later this week. City sources said the deal would be worth about £2bn, or Euros2.3bn – equivalent to roughly the entire market capitalisation of Playtech.

Snaitech, which trades under the brand Snai, saw revenues grow by 5% to €946.6m in the last financial year, and maintained its market-leading position across Italian sports betting brands.