Playtech have been given the go ahead to purchase the majority stake in the Italian gaming and betting firm Snaitech SpA. The purchase will mean that Playtech will own a 70.6% stake which was agreed upon in April, the deal will be worth €846 million and is expected to be closed next month.

 

The deal should create a vertically integrated retail and online Italian gaming business which will control its own technology, talking about the purchase in April, the CRO Mor Weizer said: “The acquisition of Snaitech represents the continuation of our strategy to invest in leading retail brands in fast growing, regulated markets.”

 

Playtech’s revenue mix should be significantly enhanced with the acquisition of Snaitech, which will come with a well-established and experienced team that has an excellent track record financially and operationally.

 

If Playtech wish to take over the remaining percentage they will have to make a takeover offer in order to acquire the remaining stake of Snaitech.