Playtech has confirmed that the group is in talks to purchase Italian gambling group SKS365 in a response to media speculation concerning the group’s acquisitive interest.
Earlier in the day, Sky News had reported that the company was joined by Flutter Entertainment in leading the chase for a prospective purchase, with the broadcaster speculating that fellow Italian group Lottomatica is also in the running. It is thought that a purchase price could fall within the region of £500m-£600m.
Playtech has subsequently confirmed that it is “participating in a process regarding the potential acquisition”, although it did acknowledge that there are “other parties” involved which have also expressed an interest.
SKS365 boasts its flagship online gambling portal Planetwin365, as well as a retail footprint that spans approximately 1,000 shops.
“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,” a company statement read.
Earlier in the month, Playtech expressed its confidence that it will capitalise on “the exciting market opportunities ahead”. Although the firm’s participation in the burgeoning M&A scene has been a little quiet since a hotly-contested potential buyout of the company fell by the wayside midway through 2022.
In August 2022, deteriorating capital market conditions were cited in dropping plans to divest its shareholding in Mexican B2C joint-venture Caliplay. However, a pair of investments into Ontario-based online casino and sportsbook operator NorthStar Gaming have since followed.
Dublin headquartered Flutter is no stranger to bolt-on additions, with the firm looking to “replicate the success” achieved across numerous jurisdictions after dipping its toes into the M&A well once again this week to purchase 51 per cent of MaxBet for €141m (£123m).
Elsewhere, Lottomatica strengthened its Italian grip a little over ten months ago after entering into an agreement to acquire BetFlag. The acquisition, undertaken via its GBO subsidiary, saw terms agreed on a purchase price of €310m.
