Playtech Confirmed Finalto Sale For $ 210 Million
A major gambling brand playtech announced the sale of its finalto trading and financial unit. Buyer performs a consortium running barinboim group. It is supported by leumi partners limited and menora mivtachim insurance limited.
The total be $ 210 million. New owners must pay the first tranche in the amount of $ 185 million. Of these, 15 million are postponed for up to two years from the date of completional 25 million, depending on a certain cash flow or other criteria, which corresponds to the business group finalto.
It is expected that the purchase will be compleed in the fourth quarter of 2021. It will increase the unlimited cash of playtech about $ 200 million. Then will follow the additional delayed financial revenue of million.
"I am delighted with high performance, which playtech has achieved in 2021, despite the ongoing problems associated with a pandemic," said playtech director general playtech mor weisser.
He added: "finalto sale is implementing a program to simplify the company. Our technologies and products are not even equal. We have a clear growth strategy aimed at expanding the gegraphical coverage of our basic business b2b ".
Playtech emphasized the strength of his online segment during the first four months of 2021, and progress in the united states has become a key element of brand growth after the company has signed strategic agreements with various jurisdictions and several greenwood representatives. As a result of these agreements, playtech launched its large-scale work in michigan. In the second half of 2021, further expansion of the company on regulated markets is expected. Operator plans to build their own casino in michigan, new jersey and pennsylvania.
Recall slotegrator continues to build plans to expand its influence in europe.