12 Apr 2018

Going vertical

Playtech PLC (PTEC:LON) | 731 117 2.2% | Mkt Cap: 2,261m

- Michael Campbell
- 4 pages

PTEC announces the proposed acquisition of Snaitech S.p.A a leading gaming and betting operator in the Italian market for a consideration of €846m funded by existing cash and debt. The deal appears profit enhancing on first take at 6.2x EBITDA (c. 5.8x post €10m synergies), PTEC on c. 7x FY18 EBITDA. Two stage deal: initial acquisition (70.6%) expected to complete in the 3Q18 and final transaction (29.4%) to complete in the 4Q18.

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Going vertical

Playtech PLC (PTEC:LON) | 731 117 2.2% | Mkt Cap: 2,261m

Published: 12 Apr 2018
Author: Michael Campbell
Pages: 4

PTEC announces the proposed acquisition of Snaitech S.p.A a leading gaming and betting operator in the Italian market for a consideration of €846m funded by existing cash and debt. The deal appears profit enhancing on first take at 6.2x EBITDA (c. 5.8x post €10m synergies), PTEC on c. 7x FY18 EBITDA. Two stage deal: initial acquisition (70.6%) expected to complete in the 3Q18 and final transaction (29.4%) to complete in the 4Q18.