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Playtech finalizing Snaitech takeover

One more hurdle is left behind for Playtech on its way to acquire Snaitech. The Italian financial watchodog Consob approved the €846M takeover of the remaining 19 percent stake in the Italian betting and gaming operator Snaitech SpA (Snaitech). The UK-listed technology supplier already holds an 80.9 percent stake in Snaitech following the initial acquisition of around 70.6 percent of Snaitech’s issued share capital in April and another 10.3 percent in May.

Playtech has announced that the initial acquisition of Snaitech had a price of €846 million. Snaitech is licensed by the Italian Monopolies Authority and is offering gaming services and products. Amongst them are included sport and horse racing betting, virtual sports, lottery, online poker, skill games, casino games, bingo and esports.

The SNAI betting network has more than 1600 points of sale throughout Italy and operates 60000 “New Slot” machines. After Consob’s green light, Playtech will have the opportunity to improve the quality and diversification of the company’s revenue. The deal appears to come exactly when the British government announced sweeping gambling reforms. Online gambling operators will be required to implement stronger verification rules and set limits on consumers’ spending, as well as raising the age limit for lottery games.

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