Playtech shareholders have approved the sale of its Finalto division for $250 million

Shareholders of gaming giant Playtech have approved the sale of its trading and financial division, Finalto, to Gopher Investments. Back in September, the online gambling software provider accepted Gopher's cash offer of $250 million, but the deal required the approval of the brand's shareholders to be finalized.
In parallel, Australian slot machine manufacturer Aristocrat Leisure has made progress in its proposed acquisition of Playtech's remaining assets. The sale of Finalto was described as a "key condition" for Aristocrat's overall bid for the supplier's business. It is already confirmed that Aristocrat Leisure's initial offer to acquire Playtech's operations was valued at $4.05 billion. The two companies are currently working together to implement the agreements reached earlier.
Aristocrat CEO Trevor Croker commented on this significant development: "The approval received from Playtech shareholders for the sale of Finalto aligns with the conditions of Aristocrat's recommended offer and represents a further step in the process of completing this complex transaction. We believe we are providing attractive value and enhanced regulatory and financial certainty for Playtech. We are confident that the combined business will offer greater opportunities for the employees of this organization in such a competitive market."
Aristocrat executives added that, if successful, they plan to utilize the Snaitech division of the new subsidiary to "develop and implement ideas" in Europe, while also working to increase revenues, expand customer reach, and ensure financial stability.
The completion of the deal is expected in the second quarter of 2022.
In related news, Bally’s has announced plans to build a state-of-the-art $1.6 billion casino resort in Chicago.