Playtech Advances B2B Transformation After €2.3B Snaitech Sale

Playtech has officially completed its strategic pivot to become a dedicated B2B gambling technology provider, following the €2.3 billion sale of its Italian consumer brand, Snaitech, to Flutter Entertainment. Finalized on April 30, the deal marks a decisive step in Playtech’s shift away from consumer-facing operations and enables the company to sharpen its focus on global B2B markets.

The transaction will return approximately €1.8 billion to shareholders through a special dividend of €5.73 per share, scheduled for distribution on June 12. Shareholders had until May 27 to choose between payment in euros or sterling. Simultaneously, Playtech is working toward divesting its German-facing HAPPYBET business, with additional updates expected soon.

Strong Start to 2025 Despite Market Pressures

Playtech’s Q1 trading update described a “solid start” to 2025, driven in large part by significant revenue growth in the United States. The company cited strong performances across its Live, Casino, and Platform services, as well as from its high-margin SaaS division, which showed robust gains across multiple geographies.

CEO Mor Weizer highlighted the momentum:
“With the sale of Snaitech now completed, we have significantly strengthened our balance sheet and will return approximately €1.8 billion to shareholders as a special dividend. Our core B2B business has delivered a solid performance in the first four months of the year, with a standout performance in the US.”

Despite encountering regulatory headwinds in Latin America, including a temporary VAT on gaming in Colombia and structural shifts in Brazil, Playtech continues to view the region as a key growth market. Its Caliplay joint venture remains profitable, especially after transitioning from service fees to a dividend-based revenue model, reflecting Playtech’s 30.8% equity stake in the operation.

Improved Financial Structure and Debt Reduction

The windfall from the Snaitech deal is already being used to optimize Playtech’s capital structure. The company will redeem the remaining €150 million of its €350 million senior secured notes—originally set to mature in March 2026—on June 2, reducing debt and lowering interest costs.

These efforts reinforce Playtech’s B2B-only strategy by freeing up resources for reinvestment and stabilizing the balance sheet during its transitional phase.

Leadership Aligned with Strategic Vision

At the company’s Annual General Meeting, John Gleasure officially assumed the role of Chairman, taking over from Brian Mattingley. The leadership change is aligned with Playtech’s evolving vision and underscores its focus on B2B technology innovation and global expansion.

Market Reaction and Outlook

While Playtech’s stock dipped slightly, down 1.3% to 348.00 pence on the London Stock Exchange, analysts expect sentiment to remain positive, buoyed by the upcoming dividend and a clear roadmap for B2B growth. The company’s restructuring and strong early 2025 performance, particularly in the US, are seen as indicators of sustainable momentum.

As Playtech progresses through the year, it is well-positioned to capitalize on high-demand markets, expand its B2B partnerships, and reinforce its role as a leading technology supplier in the regulated global gambling industry.

Source: 

Playtech accelerates B2B shift following strong US growth and Snaitech sale, LCB.org, May 22, 2025.