Paddy Power owner Flutter Entertainment is actively considering submitting a bid to run Italy’s main lottery license, after authorities formally pressed the start button on the process in recent weeks, according to sources.
The Italian Agency for Customers and Monopolies, which oversees gambling regulation, estimates the nine-year lottery contract will have a gross value of €4.3 billion [$4.5 billion], according to documents published this month.
It has set a minimum bid level at €1 billion for parties interested in country’s oldest lottery license, which has been in the hands of International Game Technology (IGT), formerly known as Lottomatica Holdings, for the past three decades.
