Playtech confirms involvement in SKS365 M&A discussions
FTSE 250 firm responds to media speculation but notes there is no guarantee any acquisition will come to fruition
Playtech has confirmed that the firm is currently in discussions regarding a potential acquisition of SKS365.
In a brief statement released today (29 September), the London-listed B2C and B2B company confirmed it was participating in the process.
Citing a response to media speculation, Playtech said that it was aware there were other parties involved in a potential acquisition of SKS365.
Playtech said: “There can be no certainty that Playtech will be successful in the process nor that any transaction regarding the potential acquisition of SKS will be agreed.
“Further announcements will be made as and when appropriate.”
Sky News had reported that Playtech, along with Flutter Entertainment and Lottomatica, are engaged with M&A talks which could see SKS365 sold for as much as £500m.
SKS365 is the privately-owned company behind Italian brand Planetwin365 that boasts more than 600,000 registered online customers and a retail network of almost 1,000 shops in Italy.
The company has more than 500 employees across four hubs in Serbia, Italy, Malta and Austria.
SKS365 is led by CEO Alexander Martin, who has been in the post since December 2019.
Playtech’s confirmation of being in M&A talks follows on from CFO Chris McGinnis’ comments after the firm’s H1 results day earlier this month.
During an analyst call, McGinnis confirmed M&A would be focused on regions where the operator was already active with its B2C arms.
Playtech runs the Snaitech brand in Italy.