Tag Archives: Snaitech

Flutter Entertainment’s board has approved a combined $2.8bn capital raise, using senior secured notes and an incremental Term Loan B facility, to repay the bridge financing primarily used for the acquisition of Snaitech Italia. The NYSE- and LSE-listed gambling group has announced the launch of a new offering of senior secured notes, maturing in 2031. These will be issued in …

Flutter Entertainment‘s Italian leadership ambitions took a step further this week as the multinational gaming group secured regulatory approval for its takeover of Snaitech. The Irish-founded, New York-listed company has cleared all antitrust, gaming and regulatory approvals to acquire Snaitech from a subsidiary of UK-based gaming firm Playech. The company first secured terms to acquire Snaitech in September last year …

Playtech Plc  has achieved “elevated targets” of a transformative 2024, as the FTSE250 technology group returns to a pure-play B2B identity. Full-year 2024 trading featuring the B2C activities of Snaitech, saw Playtech achieve corporate revenues of €1,791.5m, up 5% on FY2023 results of €1,706m. Despite year trading being disrupted by €2.4bn sale of Snaitech to Flutter Entertainment (sanctioned in Q3), …

Italy’s online gambling sector continues to accelerate at a double-digit momentum as the latest statistics indicate that the market reached a GGR size of €5bn in 2024. Though yet to be confirmed by ADM, Italy’s Customs and Monopolies Agency, the 2024 result of €5bn indicates an 11% year-on-year GGR increase from the 2023 total of €4.5bn. GGR growth reflects a …

The board of Playtech Plc has announced that a General Meeting will be convened on 19 December to allow shareholders to vote on the directors’ remuneration policy. The vote is needed to settle disputes over Playtech’s €100m remuneration scheme for executives, linked to the LSE-listed firm’s sale of its Snaitech Italia business to Flutter Entertainment for €2.3bn. A segment of …

Playtech Plc has guaranteed investors that it will achieve its full-year 2024 commercial objectives due to positive H1 results and business outcomes. H1 trading saw the LSE gambling group achieve corporate revenues of £906m, up 5% from the 2023 comparatives of £859m, as the period trading reflected ‘the strong execution of its B2B business’. Headline growth saw Playtech report an …

Flutter Entertainment has reached definitive terms with Playtech Plc to acquire Snaitech SPA for €2.3bn, aiming to take the “gold medal podium position” in Italian gambling. This morning, the boards of Flutter and Playtech notified markets that an all-cash offer of €2.3bn had been accepted for Snaitech, the Italian market’s third-largest online gambling operator, with a market share of 9.9%. …

Playtech Plc has renegotiated its terms of service with Grupo Caliente, settling commercial disputes related to the Mexican joint venture of Caliplay. The commercial disagreement began in 2023 when Grupo Caliente, Mexico’s largest casino operator, annulled service fees, with Playtech disputing contract entitlements of the Caliplay JV. The dispute saw Playtech and Caliente initiate separate lawsuits in London and Mexico …

Playtech Plc has confirmed that it is in discussions with Flutter Entertainment Plc regarding the ‘potential sale’ of its Snaitech Italia business. The FTSE250 technology group issued a short statement in response to media speculation on the potential sale of its Italian business to the NYSE-listed gambling group Flutter. The statement confirmed that discussions are ongoing “regarding the potential sale …

Snaitech subsidiary Happybet has become the principal betting partner of Sport1, Germany, and DACH markets’ free-to-air sports broadcaster. Declared as a long-standing commitment, Happybet has begun its sponsorship of Sport1 programming, which includes fixtures and highlights of the UEFA Euro 2024 championships hosted in Germany. The partnership is launched with Happybet, promoted as the “Partner of Sport1” across the broadcasters’ …