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Playtech Expands to Italy Through €846 Million Acquisition of Snaitech

Playtech Reaches Agreement to Buy Italy’s Snaitech for €846 Million

The online gaming space in Italy continues to attract investors and encourage acquisitions as Playtech, one of the world’s leading software suppliers, agrees €846 million-worth purchase of Snaitech. By taking over the Italian multichannel gaming company, Playtech demonstrated their ambition for gaining a foothold in Italy. The combination of Playtech’s wide selection of premium online slots and Snaitech’s dominance in Italian market will bring additional value to both players and affiliate programs.

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New agreement between Playtech and Snaitech is expected to strengthen the positions of both companies, and will be especially beneficial for Playtech, having in mind the regulatory changes in the UK plus operational challenges in Asia.

More About Snaitech

If you reside in Italy and have a thing for online gaming, the chances are you’ve probably heard of Snaitech. They are licenced by the AAMS and have an amazingly rich offer which includes sport and horse betting, virtual sports, video lottery, online casino games, e-sports and poker tournaments.

Snai website features a vast range of gaming and entertaining services including various online products. In addition, they run a well-known blog providing updated gaming and sports information to customers and sports fans.  

Words from Playtech and Snaitech Representatives

Mor Weizer, Chief Executive Officer of Playtech said: "The acquisition of Snaitech represents the continuation of our strategy to invest in leading retail brands in fast growing, regulated markets.

The acquisition delivers the board’s strategic objective to improve the quality and diversification of group revenue, whilst delivering exposure to high growth end markets, by utilising the strength of Playtech’s balance sheet.

Playtech has always been at the forefront of its industry and the acquisition offers the opportunity to create a vertically integrated B2B2C operator in Europe’s largest gambling market, delivering significant value to shareholders."

Commenting on the transaction, Fabio Schiavolin, Chief Executive Officer of Snaitech added: "This acquisition reflects Snaitech’s position as one of the leading and best-known brands in Italy and delivers meaningful value to our shareholders.

The combination of Playtech’s technology and experience in Italy with Snaitech’s powerful brand mean we will be better able to capture the online opportunity in the fast growing and dynamic Italian market. We are pleased to be joining the Playtech team and look to the future with confidence and excitement."

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