Playtech completes sale of Snaitech to Flutter for EU2.30 billion
Playtech PLC on Wednesday said it has completed the sale of Snaitech Spa to Flutter Entertainment PLC for €2.30 billion.
Isle of Man-based gambling software developer Playtech said it will pay a special dividend of €5.73 per share on June 12 to shareholders.
Playtech said the completion of the deal allows it to focus on its technology-led offering in high-growth business-to-business gambling markets.
Dublin-based bookmaker Flutter Entertainment said the acquisition aligns with its strategy to ‘invest in leadership positions in attractive international markets’.
Flutter Chief Executive Officer Peter Jackson said: ‘Snai’s significant omnichannel presence brings strategically important assets to enhance Flutter’s position in Italy. The transaction fits perfectly with our strategy for value creating M&A and is expected to bring about significant growth opportunities for Snai by providing access to Flutter’s market leading products and capabilities.’
Shares in Playtech closed 0.1% down at 760.00 pence in London on Wednesday afternoon. Flutter shares closed up 1.5% at 17,900.00 pence.
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