Playtech stock plummets 60 per cent following dividend payout Business Playtech’s stock price has crashed more than 60 per cent following the payout of a special dividend worth close to two thirds of its market capitalisation. The gambling software firm paid out almost £1.5bn as a special dividend from the sale of its Italian consumer arm Snaitech to Flutter during last year. As a result, [...]
Playtech set to issue ‘beast of a dividend’ following Snaitech sale Business Gambling software firm Playtech is set to issue what analysts have described as a “beast of a dividend” later this year, as the sale of Snaitech reaches close to completion. Playtech agreed the sale of its Italian arm Snaitech to Flutter during last year for €2.3bn (£1.92bn), distributing most of the proceeds from the sale as a [...]
Playtech: Gambling giant’s chair steps down after action-packed tenure Tech The chair of Playtech is to step down following an action-packed tenure at the London-listed gambling tech firm. Brian Mattingley will depart after nearly four years at the helm, but will stay in his role for a few months as the search for a successor gets underway. In a statement to markets, Playtech, which was [...]
Playtech sells Italian arm to Flutter for £2bn September 17, 2024 London-listed gambling tech provider Playtech has agreed to sell its Italian gaming arm Snaitech to Flutter Entertainment for €2.3bn (£1.9bn). Playtech first confirmed discussions with Flutter, the owner of Paddy Power and Betfair, in August. The deal values Snaitech at a significant premium to Playtech’s market capitalisation as of 13 August, the last date before negotiations [...]
Analysts ‘sceptical’ about Flutter’s £2bn bid for Playtech’s Italian arm August 19, 2024 Flutter Entertainment’s potential £2bn swoop on Italian betting firm Snaitech, the consumer division of ‘white label’ gambling technology provider Playtech, has left some analysts unconvinced. Playtech has granted a period of exclusivity for Flutter to complete due diligence, although the Paddy Power and Betfair owner said at this stage there is “no certainty” that it [...]
Paddy Power and Betfair owner Flutter in talks for £2bn Snaitech deal August 14, 2024 Paddy Power and Betfair owner Flutter Entertainment is in talks to buy Italian gambling company Snaitech, the consumer division of Playtech, in a deal that could be valued at around £2bn. “Playtech confirms it is in discussions with Flutter and has granted Flutter a period of exclusivity to complete due diligence and finalise the necessary [...]