Updates

Playtech - Set to pay a 456p-483p special dividend

October 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares soared after Playtech confirmed the sale of its B2C division, Snaitech, for €2.3bn to Flutter (FLTR; 17800p) - Snaitech generated €256m EBITDA and this represents a 9x FY23 EV/EBITDA multiple. The deal is anticipated to complete in Q2 next year. Post the sale, Playtech will return €1.7bn-€1.8bn of the €2.3bn (£6.27 per share - 16% more than the entire market cap before the deal!) proceeds via a special dividend, equivalent to 456p-483p a share. Playtech also intends to repay its €350m March 2026 bond. After selling Snaitech, Playtech will comprise a B2B division (€182m EBITDA in FY23), a 30.8% stake in Caliplay and a small B2C business (€6m EBITDA loss in FY23). Tipped at 299p in August ‘20. Await developments. ...

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Brave Bison

Supreme

Playtech - Upgrades its 3-5 year target (April 2023)

Playtech - Trading ahead of expectations (October 2022)

Playtech - Bid at 680p; gain 127% (November 2021)

Playtech (October 2021)

Playtech (February 2021)

Playtech (September 2020)

Playtech - Q1 20 was best quarter on record (August 2020)

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