Under the new agreement, Playtech will extend its technology to support Flutter brands such as Paddy Power, Betfair and Sky Casino.

It will look to provide exclusive and dedicated studios to each of the three brands.

With the new deal in place, Playtech’s support will be available to Flutter operations across Europe.

Shimon Akad, COO at Playtech, said: “Flutter is one of Playtech's key strategic partners, and so this new long-term agreement to supply our innovative software and services across four key product verticals is significant.

"This is testament to the long-standing and strong relations between Flutter and Playtech, and we look forward to continuing to work with Flutter in its core markets to support Paddy Power, Betfair and Sky Casino over the next five years." 

Conor Grant, CEO for Flutter UK and Ireland, added: "We are pleased to have signed an extension agreement with Playtech.

"Over the years we have built a very successful partnership and are excited to continue offering our customers access to software from one of the world's leading suppliers of high-quality gaming product."

Playtech has said it aims to improve its services to raise industry standards and promote safer gambling.