Mergers & Acquisitions

Playtech confirms talks over $200m sale of financial division Finalto

Playtech has announced that an offer has been made to acquire its financial trading division for up to $200m.


The online gaming software supplier confirmed that a management consortium backed by Israeli investment and insurance companies have made a cash offer for Finalto, with $170m to be paid upon completion of the deal.

Of the fee, approximately $110m of capital required to run the business will be transferred once the sale is completed.

The consortium is backed by Barinboim Group, Leumi Partners Limited, The Phoenix Insurance Company and Menora Mivtachim Insurance.

Finalto is a technology-based division in the contract for differences (CFD) and financial trading industry which operates on both a B2B and B2C basis.

Playtech has been evaluating the future of its trading division for more than a year, and confirmed it was exploring a potential sale of it back in August, when it was known as TradeTech.

In a statement, Playtech said: “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.

“While discussions are progressing, there can be no certainty that any transaction will be forthcoming nor on what terms it would occur.”

In its trading update earlier this month, Playtech confirmed it was in talks to sell Finalto but also mentioned that it had a “very strong 2020” and the division was a “standout performer in H1” of the 2020 financial year.

Finalto’s revenue grew 123% year-on-year to €87.3m ($105.8m) for H1, despite the supplier’s overall revenue decreasing 23% for the six months to 30 June, down to €564m.

Premium+ Connections
Premium Connections
Executive Profiles
American Gaming Association
Penn Entertainment
Flutter Entertainment
Barstool Sports

London calling

Gambling Insider looks ahead to the sixth Global Gaming Awar...

Innovating fantasy

StatHero CEO and Founder Jason Jaramillo speaks to the GI Hu...

The uncut pearl

In this issue, Gambling Insider looks at three of Asia’s m...

Singapore: Age of the VIP

Gambling Insider looks at the Asian nation's high prospects...

Read Magazine

28 November, 2022

Sri Lanka to set up casino body

Sri Lanka’s Committee on Public Finance plans to set up a casino regulatory body following discussions held in parliament over the weekend.