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
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.
