Industry News

Playtech Closes its Snaitech Branches in Italy Amid Covid-19

Published

5 years ago

March 11, 2020

Niji Narayan

Playtech Closes its Snaitech Branches in Italy Amid Covid-19

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Playtech PLC has announced that all of its Snaitech branches in Italy have closed following government action. The Italian government has ordered all betting shops, arcades and bingo halls closed across the entire country until April 3.

Italy has become a hotspot for the virus outside of China, with 16 million people currently quarantined. There are now over 7000 cases and more than 350 deaths.

However, Playtech said online operations may be able to mitigate some of the impacts. Further, the increase in market volatility has led to a “very strong” performance from TradeTech, its trading platform.

At the end of February, when reporting annual results, Playtech said Snaitech had an “outstanding” 2019. The new year had also gone well, though it did note at the time coronavirus had hit trading slightly.

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Niji Narayan

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.