A top-tier provider of gaming solutions, Playtech, is currently in discussions with numerous prospective purchasers for the sale of its financial branch, TradeTech.
Playtech responded to news reports from Israel by stating that they are consistently examining all feasible options since last November, when the division encountered operational challenges.
While Playtech confirmed that they are engaged in talks with interested parties concerning a possible sale, they highlighted that these discussions are still in their initial phases and there is no assurance that an agreement will be reached, or even if mutually agreeable terms can be established.
Playtech added that TradeTech continues to make a significant contribution to their operations, as evidenced by its robust performance in the first six months of the year.
Playtech’s recent trading update earlier this month indicated that TradeTech benefited from heightened market instability and trading activity in the six months concluding on June 30, and noted that this strong performance has persisted into July.
The supplier will disclose its complete results for the period on September 17 and stated that they will provide any subsequent updates on the potential divestiture in due time.
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