Last updated: February 26, 2024
Playtech engages in acquisition discussions for SKS365, facing competition from Flutter Entertainment and Lottomatica, with an estimated purchase price of £500m-£600m.
In response to rumours in the media about the group’s desire to acquire Italian gaming group SKS365, Playtech has officially stated that it is in negotiations to buy the group.
Sky News had earlier in the day reported that Flutter Entertainment had joined the company in pursuing a potential acquisition, and the broadcaster conjectured that Lottomatica, another Italian group, may also be a contender. It is estimated that a purchase price might be between £500 million and £600 million.
Playtech later acknowledged that “other parties” are involved and have also expressed interest, but it still confirmed that it is “participating in a process regarding the potential acquisition.”
SKS365 is proud of its flagship online gambling portal, Planetwin365, and its roughly 1,000-store retail presence.
Playtech’s progress in the process and the agreement to any deal pertaining to the possible acquisition of SKS cannot be guaranteed. Additional announcements will be made as and when necessary, according to a statement from the business.
Playtech stated earlier in the month that it is certain it will take advantage of the exciting market opportunities ahead. The company hasn’t been as active in the growing M&A scene since a highly-contested takeover attempt on the business failed in the middle of 2022.
Reductions in capital market conditions were the reason given in August 2022 for abandoning plans to sell its stake in the B2C joint venture Caliplay, based in Mexico. Nevertheless, two more investments have since been made in NorthStar Gaming, an online casino and sportsbook operator based in Ontario.
The Dublin-based company Flutter is no stranger to add-ons; after dipping its toes into the M&A market once more this week by paying €141 million (£123 million) for 51% of MaxBet, the company hopes to “replicate the success” realized across multiple jurisdictions.
In other news, a little more than a year ago, Lottomatica tightened its hold on Italy by agreeing to buy BetFlag. A purchase price of €310 million was agreed upon for the acquisition, which was carried out through its GBO subsidiary.
Susan is a verified gambling support specialist who has helped thousands of problem gamblers get back on their feet through therapy and financial counseling. She’s also worked as a cage manager in four Las Vegas casinos and spent two years in Macau in her 30s, where she became extremely savvy at Sic Bo and other Asian table games. Her knowledge and expertise have and continue to play a priceless part in how we structure our content, particularly when it comes to game guides and casino reviews.
