Playtech Purchase of Snaitech Gets Italian Approval

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.

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24 May 2018 - 6:18pm

Obviously after that acquisition the Playtech positions in Italy will be significantly strengthen which of course means a huge growth for the company in general when we see the bigger picture.