Summary
- Playtech has announced the sale of its B2C business in Germany.
- The Happybet brand is being acquired by NetX Betting, a subsidiary of pferdwetten.
- The deal can only be finalized once all standard closing conditions are satisfied.
Playtech has intensified its focus on the B2B sector by announcing the sale of a significant B2C asset in the German market, Happybet.
Playtech pulls the plug on B2C business in Germany
The company has finalized an agreement with pferdewetten.de AG, whose subsidiary, NetX Betting, is set to acquire the popular German-facing brand. This acquisition further distances Playtech from the B2C sector. Previously, Playtech divested another asset over six months ago by selling Snaitech in Italy to Flutter Entertainment for €2.3 billion. The deal was recently completed, resulting in a threefold return on investment for the seller. Additionally, Playtech closed its Happybet operations in Austria last year, facilitating its exit from the German market. The sale of Happybet is still pending and subject to customary conditions and regulatory approvals. The buyer is now entering a period in which it must secure all necessary permits to finalize the transaction.
Playtech is confident in its new chosen strategy
There will be a transition period during which pferdewetten.de will negotiate with franchise partners and seek the necessary regulatory approvals from German authorities. According to Playtech, any remaining Happybet assets not acquired by pferdewetten.de will cease operations and may be dismantled if necessary. Playtech confirmed that any assets not purchased by pferdewetten.de in the forthcoming transaction will be closed down. The sale of Happybet includes 600 hardware units, such as POS and betting terminals. The buyer can choose to either acquire these units or opt to replace them.
