Playtech has announced that a management consortium has made an offer to acquire its financial trading division Finalto for a sum that could reach $200m.
Playtech in Talks to Sell Financial Division Finalto for $200mannouncement confirmed that the consortium includes Barinboim Group, Phoenix Insurance Co Ltd, Menora Mivtachim Insurance, and Leumi Partners Ltd. Playtech in Talks to Sell Financial Division Finalto for $200mAccording to the company’s trading update issued on January 12th 2021, streamlining is a priority for 2021 stating that:
Playtech in Talks to Sell Financial Division Finalto for $200m Playtech in Talks to Sell Financial Division Finalto for $200mthe recent sale of YoYo Games to Norwegian web browser company Opera, news of the impending sale of Finalto comes as no great shock. This is despite the fact that the division’s revenue grew an impressive 123% to $105.8m (€87.3m) for H1 of 2020. In fact, Playtech recently stated that Finalto had a very strong year and was one of the standout performers of the first half of 2020.However, the company had stated as far back as August 2020 that they had intended to sell Finalto, which was then known as TradeTech, once a suitable buyer could be found.
Playtech in Talks to Sell Financial Division Finalto for $200m
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.