Playtech’s Snaitech deal is approved in Italy

Playtech has announced it has been given the nod from the Italian regulator to take up a majority stake in Snaitech.

The gaming content and software giant had already last month agreed to pay €291m to take up a 70.6 per cent stake in Snaitech.

The deal is now expected to complete next month, after which time Playtech is obliged to make a takeover offer for the remainder of the Snaitech shares.