Playtech relocates Happybet, its German asset, to a subsidiary named Pferdewetten.
By: Lucas Dunn, May 28, 2025Photo by Wikimedia Commons, CC BY-SA 1.0
The Exit
Playtech, a leading B2B technology supplier, has sold its German B2C brand, HappyBet, to Pferdewetten AG. This move signifies Playtech's shift into a purely B2B-focused model in Europe, marking an important step in the firm's strategic growth.
A New Era
Post this sale, HappyBet will now operate under the subsidiary of Pferdewetten.de, NetX Betting Ltd. The transaction is designed to facilitate a smooth transition, with both Playtech and Pferdewetten.de collaborating closely to ensure a seamless handover.
A Fruitful Divestment
Before selling HappyBet, Playtech had divested its Italian B2C business, Snaitech, to Flutter Entertainment for a whopping €2.3 billion. The move is regarded as a significant value-creation event, enabling Playtech to pay a special dividend to its shareholders, adding up to €1.7 - €1.8 billion.
Brighter Horizons Ahead
Playtech's decision to exit B2C operations in Germany and Italy is driven by an aim to streamline its business model, offering superior technology, expanding its customer base, and increasing wallet share with existing customers. The transition to a B2B-focused model helps minimize operational and regulatory complexities associated with direct consumer-facing activities, paving the way for scalable technology-driven growth.
In essence, the sale of HappyBet to Pferdewetten AG represents Playtech's transition into a purely B2B model in Europe by:
- Divesting its remaining German B2C brand HappyBet
- Continuing its earlier sale of Italian B2C business Snaitech for €2.3 billion
- Simplifying its business focused on B2B technology provision
- Returns to shareholders in the form of special dividends
- Positioning the company for technological advancements, customer growth, and expanding wallet share under a less complex operational structure.
- With the sale of HappyBet to Pferdewetten AG, Playtech is discontinuing its operations in online casino, slot machines, and sports betting within the German B2C market, a move that positions the company for growth within the technology-focused B2B industry.
- The decision to sell HappyBet allows Playtech to free up resources for investment in banking-and-insurance sectors, potentially providing opportunities for collaborations and partnerships within the finance industry.
- Post the sale of both HappyBet and Snaitech, Playtech's focus on a B2B model is set to generate free spins and potential revenue through special dividends for its shareholders, leading to a more streamlined and scalable business structure in the European market.
