M&A: Race for the acquisition of SKS365

In the competitive world of gamblng, Flutter Entertainment and Playtech have found themselves locked in a heated battle for the acquisition of SKS365, the company that stands as the driving force behind the renowned PlanetWin365 brand. Reports have emerged, shedding light on this exciting auction that is set to determine the future of SKS365, with insiders suggesting a potential price tag ranging from ￡500 million to ￡600 million. Adding to the intrigue, Italian gambling heavyweight Lottomatica has also thrown its hat into the ring, expressing a keen interest in acquiring this coveted business.

Battle for SKS365

The clash between Flutter Entertainment and Playtech for the rights to SKS365 represents a significant development in the gambling industry. Both London-listed companies have firmly entered the race, intensifying the competition. The outcome of this contest, however, remains uncertain, leaving industry observers and investors eager for updates as the drama unfolds.

SKS365’s rich background

SKS365’s roots trace back to Austria, but it has evolved into a powerhouse headquartered in the gaming hub of Malta. This company has gained traction across various segments of the Italian gambling market, with a strong presence in both traditional brick-and-mortar establishments and the expanding online sector. Its crown jewel, PlanetWin365, demonstrates the company’s success, boasting around 1,000 betting shops scattered throughout Italy. Moreover, SKS365 has diversified its portfolio by managing its own payment division, PlanetPay365. It also operates news portals such as Calcio.com and PlanetWin365.news.

Auction unfolds

The fate of SKS365 now hangs in the balance, with experts from the global financial services firm Lazard orchestrating the highly anticipated auction. Playtech has officially thrown its hat into the ring, announcing its participation in the process, though it acknowledges the presence of other formidable contenders. Playtech wisely recognises that success in this process is far from guaranteed and whether a transaction for the acquisition of SKS365 will ultimately materialize remains an open question. SiGMA News is keeping an eye out for further updates from SK365.

As the bidding war rages on, Flutter Entertainment has yet to make its stance on the matter known. Both Flutter and Playtech are no strangers to the Italian gambling scene. In August of the previous year, Flutter concluded its acquisition of Italian gambling giant Sisal, fortifying its foothold in the market. Playtech, on the other hand, has been a presence in Italy since 2012, with a wide range of games and ownership of the Italian omni-channel B2C giant Snaitech. With Playtech’s current trading position at GBp455.40 (0.75 percent), the stakes are high, and the battle for SKS365 is far from over.

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