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The purchase of a majority stake in Snaitech by software group Playtech got the approval of Italy's gaming regulator, allowing the €846 million acquisition to move forward.
Playtech agreed to purchase the 70.6% stake in Snaitech last month, which will also see Playtech purchasing the full remaining shares in the company after the initial purchase is completed. Snaitech is a large betting group within Italy, providing casino, sportsbetting, virtual sports, and more to online and land-based betting destinations.
The purchase is expected to be completed sometime within the next month, with the remaining shares being purchased by the end of the year.