Playtech Closes its Snaitech Branches in Italy Amid Covid-19

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.