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Gopher to acquire Finalto for $250 million from Playtech



Playtech has agreed to sell its financial business Finalto to Gopher Investments for $250 million in cash.

The transaction is expected to complete in the first half of 2022, pending shareholder vote. The official announcement noted that Playtech’s Board fully supports the acquisition.

The official Playtech announcement said:

Playtech’s intended use of proceeds would be to retain the consideration until there is clarity, and consequently reduce net debt in the interim.

Mor Weizer, CEO of Playtech commented:

Mor Weizer, Playtech
Mor Weizer

We are very pleased to have successfully reached an agreement with Gopher regarding the sale of Finalto. This transaction delivers on our strategy to simplify the Group to focus on the high-growth B2B and B2C gambling markets.

I would like to thank everyone at Finalto for their tremendous contributions to Playtech and wish them every success. We are pleased to recommend this transaction to our shareholders, and we remain well placed to capitalise on the exciting market opportunities ahead, driving sustainable growth for the benefit of all our stakeholders.

Playtech finalto

According to the official announcement, net cash available to Playtech at completing the sale will increase by approximately $242 million. This amount is in addition to the €40 million excess cash which was extracted during the first half of 2021.

Teresa Teague, Partner at TT Bond Partners, commented:

Gopher has been impressed by the strength of Finalto’s business and management team and looks forward to working closely with the team to support the business in this exciting next stage of its evolution.

As a major shareholder in Playtech, Gopher is pleased to conclude a transaction delivering value for all shareholders and looks forward to working with the Playtech Board and continuing its constructive dialogue to support growth.

Last month, Playtech plc announced the appointment of Linda Marston-Weston to its Board as a Non-Executive Director, which will take effect on 1 October 2021.

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Gopher to acquire Finalto for $250 million from Playtech

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