Playtech PLC (LON:PTEC) said its €846mln (US$993.6mln) acquisition of Snaitech SpA has been approved by the Italian gaming regulator and it expects the deal to complete in June, sooner than expected.
The gambling technology company had originally said it expected the initial purchase of around 70.6% of Snaitech to take place in the third quarter pending regulatory and shareholder approval.
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Playtech announced the deal to acquire the majority stake in Snaitech on 12 April and will be required to make a mandatory offer for the remaining shares after completing the original acquisition.
The group added that Italian regulator Agenzia delle Dogane e dei Monopoli has already consented to the deal, and that it will now hold its shareholder vote on the share purchase on May 29.
It added that the overall transaction is expected to complete late this year.