Playtech in Talks to Sell its Financial Division for $200M

0
231

 

Playtech PLC has confirmed that it is in exclusive talks to sell its financial division for up to $200 million in cash as part of its simplification plans.

Playtech is going to sell Finalto to a consortium backed by Barinboim Group, Leumi Partners Ltd, Phoenix Insurance Co Ltd, and Menora Mivtachim Insurance Ltd.

Finalto provides a trading platform and liquidity services on a business-to-business basis, while its direct-to-consumer offering is Markets.com.

The cash offer from the consortium is worth up to $200m, of which $170m is payable on completion. Approximately $110m of capital required to run the business will be transferred with the business upon any sale.

Previous articleBetway Renews Sponsorship Deal with MIBR
Next articleCaesars Entertainment Announces Investment in DFS Platform SuperDraft
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here