Playtech has agreed an undisclosed deal to sell its remaining Germany-facing HAPPYBET business to Frankfurt-listed operator pferdewetten.de
Playtech is now focused on being a sole B2B business after selling Snaitech to Flutter for €2.3bn, which means the HAPPYBET disposal is the final step in removing its pure B2C assets.
HAPPYBET was shuttered in Austria in H2 2024, with Playtech having regularly updated the market since with its progress in selling the remaining Germany-facing business.
Under the terms of the deal, pferdewetten will be able to contract franchise partners for the HAPPYBET retail shops throughout Germany, as well as assume certain hardware assets.
These assets include betting terminals and point of sale systems.
Playtech said there would now be a transition period to allow pferdewetten to negotiate with said potential franchise partners and for regulatory approvals from German authorities.
The London-listed supplier noted that any assets that pferdewetten does not assume or take on would cease to operate and be wound up.
Pferdewetten said the acquisition would help it in its aim to have more than 300 betting shops under the Sportwetten brand up and running in Germany by the end of the year.
The operator, which is focused on retail, reported GGR of €33.3m in H1 2024, according to the most recently released financial statement from the group.
The Düsseldorf-based operator has been listed in Frankfurt since July 2000, and its flagship pferdewetten brand is one of Germany’s leading horseracing betting operators.
Sportwetten is its online and retail sports betting arm, while the group also runs B2B services.
Pierre Hofer, pferdewetten CEO, said: “We expect a mid-double-digit number of shops to open and be integrated into our network within three months.
“This corresponds to an expected additional turnover of around €7m and a positive EBITDA contribution of over €1m.
“The process, which is closely co-ordinated with the seller, enables us to complete the changeover without significant disruption to business operations.”
Earlier this month, Playtech released a trading update for the first four months of the year, which included a “solid” start to 2025.
Bosses championed progress made in the US, while pointed out that headwinds in Latam would need to be managed.
Playtech shares were flat in early trading at 320p. The stock is down 55% so far in 2025.
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FTSE 250 company continues transition to a pure B2B business after disposing of sports betting asset to pferdewetten.de
The post Playtech sells HAPPYBET to German horseracing and retail operator first appeared on EGR Intel.