Update on Snaitech Sale
Snaitech sale regulatory approvals received; completion expected end of April 2025, followed by €5.73 special dividend.
- Special dividend per share €5.73
- Expected special dividend payment June 2025
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Further to the announcement of the proposed sale of Snaitech S.p.A. ("Snaitech") on 17 September 2024, Playtech plc (LSE: PTEC) is pleased to announce that all relevant antitrust, gaming and other regulatory authority approvals have now been received.
As a result, the completion of the sale of Snaitech to a subsidiary of Flutter Entertainment plc is expected to take place by the end of April 2025.
Completion of the Transaction will enable Playtech to focus on its technology-led offering in high-growth B2B gambling markets with an accelerated growth plan and an extensive portfolio of strategic ventures. The Board believes that there is significant further upside from Playtech's simplified business model and focused B2B strategy going forward.
Transaction dividend to shareholders
Following completion of the Transaction, the Company intends to return €5.73 per share to shareholders by way of a special dividend (the "Special Dividend"). The Special Dividend is expected to be declared as soon as practicable following completion of the Transaction and paid in June 2025. Further announcements regarding completion of the Transaction and a detailed dividend timetable (including the ability for shareholders to elect to receive the Special Dividend in Sterling rather than Euros) will be made in due course.
Defined terms used in this announcement have the same meaning where defined in the Company's RNS announcement dated 17 September 2024, unless otherwise defined herein.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.