London-listed gaming solutions provider Playtech said Monday that it expects its acquisition of Italian operator Snaitech to complete ahead of schedule after receiving approval from the country's gaming regulator.
Playtech announced an €846m deal to acquire an initial 70.6 per cent stake in the Italian gaming operator in April, with the acquisition initially expected to complete during the final quarter of this year.
A General Meeting of Playtech shareholders relating to the deal will take place on May 29th, with the company now expecting completion of the initial acquisition to occur in June.
Subject to completion, Playtech will make a mandatory takeover offer for the remaining shares in Snaitech, with the overall transaction expected to complete later this year.
Shares in Playtech plc (LSE:PTEC) were trading up 1.37 per cent at 811.40 pence per share in London Monday morning.