Ireland’s Flutter Entertainment will purchase Snaitech from Playtech.
Playtech plans to issue a dividend between EUR 1.7 billion and EUR 1.8 billion following the sale.
British gambling technology firm Playtech has agreed to sell its Italian business unit, Snaitech, to Flutter Entertainment, the world’s largest betting company, for EUR 2.3 billion (USD 2.56 billion).
An All-Cash Deal
Announced today, the companies have agreed to an all-cash deal expected to close in the second quarter of 2025. After the sale, Playtech will retain only its business-to-business (B2B) offerings as the company pursues “an accelerated growth plan and an extensive portfolio of strategic ventures.”
Playtech highlighted that the sale will unlock “significant capital,” maximizing value for shareholders. The company plans to distribute dividends between EUR 1.7 billion and EUR 1.8 billion after the transaction. Additionally, Playtech will use part of the proceeds to repay EUR 350 million in bond issues due in March 2026.
“The final amount of the Shareholder Distribution will be determined with reference to the capital needs of the ongoing Playtech business,” the company said.
The Snaitech deal comes after Playtech and Flutter entered talks in August.
A Revenue-Generating Business
Playtech acquired Snaitech in 2018 for EUR 846 million, marking its entry into the business-to-consumer (B2C) gambling market. In fiscal 2023, Snaitech generated EUR 946.6 million, accounting for 55.4 percent of Playtech’s total revenue.
“Under the Playtech Group's ownership, Snaitech has grown into a high-quality business with a leading position in the Italian sports betting and gaming market,” said Mor Weizer, CEO of Playtech.
“While Snaitech has been an important part of Playtech’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,” he continued. “The combination of Playtech'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.”
Previously, Playtech sold its financial division, Finalto (formerly TradeTech), to Hong Kong-based Gopher Investments in 2022 for $250 million in cash. Although Playtech was open to takeover bids, those efforts did not materialize.
British gambling technology firm Playtech has agreed to sell its Italian business unit, Snaitech, to Flutter Entertainment, the world’s largest betting company, for EUR 2.3 billion (USD 2.56 billion).
An All-Cash Deal
Announced today, the companies have agreed to an all-cash deal expected to close in the second quarter of 2025. After the sale, Playtech will retain only its business-to-business (B2B) offerings as the company pursues “an accelerated growth plan and an extensive portfolio of strategic ventures.”
Playtech highlighted that the sale will unlock “significant capital,” maximizing value for shareholders. The company plans to distribute dividends between EUR 1.7 billion and EUR 1.8 billion after the transaction. Additionally, Playtech will use part of the proceeds to repay EUR 350 million in bond issues due in March 2026.
“The final amount of the Shareholder Distribution will be determined with reference to the capital needs of the ongoing Playtech business,” the company said.
The Snaitech deal comes after Playtech and Flutter entered talks in August.
A Revenue-Generating Business
Playtech acquired Snaitech in 2018 for EUR 846 million, marking its entry into the business-to-consumer (B2C) gambling market. In fiscal 2023, Snaitech generated EUR 946.6 million, accounting for 55.4 percent of Playtech’s total revenue.
“Under the Playtech Group's ownership, Snaitech has grown into a high-quality business with a leading position in the Italian sports betting and gaming market,” said Mor Weizer, CEO of Playtech.
“While Snaitech has been an important part of Playtech’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,” he continued. “The combination of Playtech'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.”
Previously, Playtech sold its financial division, Finalto (formerly TradeTech), to Hong Kong-based Gopher Investments in 2022 for $250 million in cash. Although Playtech was open to takeover bids, those efforts did not materialize.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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