Playtech to close Finalto sale on June 30 after finalizing regulatory approvals
Online gaming and financial services concern Playtech plc (LON:PTEC) has announced that it has received all required regulatory approvals related to the all-cash $250 million sale of its financial trading division Finalto, to Gopher Investments.
The Transaction was already approved by Playtech shareholders during the General Meeting held on 1 December 2021.
In line with the sale and purchase agreement with Gopher Investments, the company now expects completion of the sale to occur on 30 June 2022, being the last day of the month in which regulatory approvals were received. Playtech added that the completion of the transaction is a significant step in its stated strategy to simplify the group and to focus on its technology led offering as a pureplay business in the high growth B2B and B2C gambling markets.
Playtech’s financial trading division comprises the Finalto-branded institutional services business, and Retail FX/CFDs broker Markets.com. With the acquisition, Hong Kong based Gopher will become a major player in both the B2C and B2B ends of the FX and CFDs industry. Finalto produced Revenues of €32 million in the first six months of 2021.