Playtech to Sell Financial Trading Division Finalto to Gopher Investments

Playtech, the world's largest online gaming software supplier traded on the London Stock Exchange Main Market, announced that it has entered into an agreement for the sale of its financial trading division Finalto to Gopher Investments.

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Under the agreement, Playtech has agreed to sell Finalto for cash consideration of US$250 million. The completion of the transaction is expected in the first half of 2022, subject to the approvals by Playtech shareholders and regulatory agencies.

"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,”Mor Weizer, CEO of Playtech said.

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“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,”Weizer added.

Let’s recall that, on 26 May 2021, Playtech announced it had entered into a transaction with a consortium led by Barinboim Group and backed by Leumi Partners Limited and Menora Mivtachim Insurance Limited.

Whereas, Hong Kong-based Gopher Investments made a $250 million offer for Finalto on July 2​. After that, Playtech’s board has unanimously concluded that the agreement reached with Gopher should be recommended to shareholders and that shareholders vote in favour of the transaction at the General Meeting.