(Reuters) – British gambling technology company Playtech Plc <PTEC.L> said on Monday it received approval to buy a majority stake in Italian betting and gaming firm Snaitech SpA <SNAI.MI> from the gaming regulator in Italy.
Playtech, which develops platforms for online casino and online poker, had in April agreed to buy a 70.6 percent stake in Snaitech for 291 million euros (267 million pounds) in cash.
The deal is expected to close next month. After that, Playtech will have to make a takeover offer for the remaining stake in Snaitech.
(Reporting by Rahul B in Bengaluru; Editing by Arun Koyyur)