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.