Paddy Power Betfair parent Flutter has extended its partnership with Boyd Gaming out to 2038 and bought out the group’s 5 per cent stake in gambling company FanDuel for $1.75 billion (€1.5 billion).

Flutter is expected to be among the front-runners for Italy’s main lotto licence – said to be worth €1.5 billion – as Monday’s deadline for tenders nears. The gaming giant has, however, faced ...