- Playtech
- 17 September 2024 07:47:22
Source: Sharecast
Once the deal completes, Playtech said it will focus on its "technology-led offering in high-growth B2B gambling markets with an accelerated growth plan and an extensive portfolio of strategic ventures".
Playtech also said that after completion, it plans to return €1.7bn to €1.8bn to shareholders by way of a special dividend.
Chief executive Mor Weizer said: "While Snaitech has been an important part of the Playtech Group's growth in recent years, the board agreed that this transaction represents a compelling opportunity to maximise value for our shareholders while also allowing them to share in further upside from continued ownership of a leading B2B business.
"The combination of the Playtech Group's leading technology with its exposure to attractive markets, including in the Americas and Europe, provides a strong platform for growth in the medium-term. We are excited about what the future holds and the many opportunities ahead of us.
"In Flutter, Snaitech will have a new owner with an existing presence in Italy and all of the opportunities that brings. I'm confident that Snaitech will continue to excel under their ownership."