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Playtech Agrees Deal to Exit Happybet German Betting Operating

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Playtech Agrees Deal to Exit Happybet German Betting Operating
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Playtech PLC has struck an agreement to exit its Happybet online gambling and retail betting unit in Germany.

The gambling software company had closed the Austrian Happybet business in the second half of 2024 and in March of this year, said it kicked off a process to sell the remainder of the unit in Germany.

The move was in line with its aim to sharpen its focus as a “predominantly pure-play business-to-business operator”.

It has now struck a deal with NetX Betting Ltd, a subsidiary of Frankfurt-listed betting group pferdewetten.de AG.

Dusseldorf-based pferdewetten.de will have the chance to contact franchise partners of Happybet shops in Germany.

“As part of this agreement, pferdewetten.de will also assume ownership of certain associated hardware,” Playtech said.

“There will now be a transition period to allow pferdewetten.de to negotiate with the relevant franchise partners and for the relevant regulatory approvals to be sought from the competent authorities in Germany. It is intended that any remaining Happybet assets not transferred to, or assumed by, pferdewetten.de will cease operations and, where relevant, will be wound up.”

Playtech shares fell 0.8% to 319.85 pence each in London on Wednesday morning.

At the end of last month, Playtech completed the sale of Snaitech Spa to Flutter Entertainment PLC for EUR2.30 billion.

The Isle of Man-based firm said the completion of the deal allowed it to focus on its technology-led offering in high-growth business-to-business gambling markets.

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.

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