By Andrea Figueras
Playtech said the disposal of Italian gambling company Snaitech met all relevant antitrust, gaming and other regulatory authority approvals.
The London-listed gambling-software company said Wednesday that the completion of the sale to a subsidiary of Flutter Entertainment is expected to take place by the end of April.
The transaction will allow Playtech to focus on its technology offering, the group said, adding that it sees opportunities in its simplified business model and a business-to-business strategy going forward.
Following completion of the deal, Playtech will pay a special dividend of 5.73 euros per share to shareholders.
In September last year Flutter Entertainment said it intended to acquire Snaitech in a cash deal valued at 2.3 billion euros, as part of its strategy to invest in international markets.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
April 09, 2025 12:01 ET (16:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.