Playtech Abandons Plans to Sell Snaitech

Playtech, the gaming provider, has decided to postpone any plans to sell its B2C business, Snaitech. The management concluded that the recent success of the division indicates it can provide greater value by remaining part of the group.
Comments on this decision came from Playtech leaders following the company's announcement of its first-half results. According to the financial report, revenue surged by 73% year-on-year, reaching €792.3 million. Income from Snaitech nearly tripled, amounting to €446.0 million.
Reports had suggested that the provider was considering a spin-off of its business, including the potential sale of Snaitech. Playtech acquired the company in 2018 after a deal to sell itself fell through. The board had approved an offer from gaming giant Aristocrat, but shareholders ultimately rejected the agreement.
Today, Group Chairman Brian Mattingly stated that Playtech has no intention of selling Snaitech. Instead, he expressed confidence that the best strategy is to continue allowing the division to grow.
Mattingly remarked, "The growth of Snaitech means we should not sell it at this moment. If a need arises in the future, we will consider it. Despite perceptions of the company being in poor shape, its revenues are consistently increasing."
Meanwhile, CEO Mor Weizer expressed optimism about Snaitech's future, noting that the online sector in Italy still holds significant growth opportunities. Rather than selling, Weizer suggested the opposite approach. The company is looking to acquire another B2C business to further expand in this area.
He indicated that Playtech will explore potential mergers and acquisitions to enhance Snaitech's capabilities. Weizer also shared plans for the provider's development of the live casino vertical, highlighting that this sector continues to grow rapidly and offers substantial opportunities.
In related news, provider Hacksaw has entered the Romanian market through a partnership with Superbet.