Snaitech Will Delist After Playtech Purchase

This story was published more than 2 years ago.

Betting group Snaitech announced this week that they'll be de-listing from the Italian bourse stock exchange after Playtech took full control of the company.

Playtech is purchasing the outstanding 3.5% of shareholders outright through Pluto SPA, which will give Playtech full control of the company. Those shareholders will be paid a rate of €2.19 per share. The purchase will take place at the beginning of next month, with the company delisting on August 3rd after suspending trading on August 1st.

Snai has a robust betting network in Italy, with 1,600 retail spots and 60,000 slots and 10,000 lottery terminals in the country. The purchase by Playtech gives the company a chance to diversify their interests as well as gaining footholds for internet betting in the country.

Playtech's executives are taking on similar roles at Snaitech, ousting the existing teams that are in those positions.

No comment from either party was available as of press time.

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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bgsharpe
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31 July 2018 - 2:47pm
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That looks like a really smart investment from Playtech and like dustin mentioned above it would be a solid base not only for their land business but also for their online betting ambitions in the country, so well done really.