Statement in response to press speculationSource: RNS
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
25 January 2021
('Playtech' or the 'Company')
Statement in response to press speculation
Playtech notes the recent speculation in the Israeli media and confirms it is in exclusive discussions regarding the possible sale of its Financials division (Finalto) to a management consortium backed by Barinboim Group, Leumi Partners Limited, The Phoenix Insurance Company Limited and Menora Mivtachim Insurance Limited (the "Consortium"). The cash offer from the Consortium is up to US$200 million, of which US$170 million is payable on completion. Approximately US$110 million of capital required to run the business will be transferred with the business upon any sale.
As Playtech has announced previously, including in its trading update on 12 January 2021, it is a strategic focus of the Company to simplify its business and dispose of non-core assets, and as such it has been continuing to evaluate all options for Finalto. Whilst discussions are progressing, there can be no certainty that any transaction will be forthcoming nor on what terms it would occur.
A further announcement will be made if and when appropriate.
For further information please contact:
Playtech plc +44 (0) 1624 645 954
Chris McGinnis, Director of Investor Relations & Strategic Analysis
James Newman, Director of Corporate Affairs
Headland (PR adviser to Playtech) +44 (0) 20 3805 4822
Lucy Legh, Stephen Malthouse
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 as it forms part of the domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). This announcement has been issued by, and is the sole responsibility of, Playtech.
The person responsible for making this announcement is Chris McGinnis, Director of Investor Relations & Strategic Analysis.
Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries with c.6,400 employees across 24 countries.
Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading sports betting and gaming company in online and retail in Italy.
Playtech's Financials Division, Finalto, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.