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Playtech plc
('Playtech' or the 'Company')
Update on COVID-19 impact on Snaitech business
At the Company's Full Year Results on 27 February Playtech plc ('Playtech') outlined that its Italian business, Snaitech, had experienced a strong start to 2020 but had seen a recent impact due to the outbreak of COVID-19.
Following the decree from the Italian Government issued on 8 March 2020, Playtech is providing the following update on its Snaitech operations in Italy. As part of the decree all betting shops, arcades and bingo halls across Italy will be closed until 3 April 2020 and accordingly all Snaitech retail shops are now closed. Snaitech's online activity will continue and may prove to mitigate some of the impact.
In addition, an increase in market volatility has led to a very strong performance within TradeTech year-to-date.
Playtech continues to monitor the situation closely and will provide updates as appropriate.
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For further information please contact:
Playtech plc Chris McGinnis, Director of Investor Relations & Strategic Analysis James Newman, Director of Corporate Affairs | +44 (0) 16 2464 5954 |
Headland (PR adviser to Playtech) Lucy Legh, Stephen Malthouse | +44 (0) 20 3805 4822 |
About Playtech
Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.
Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates a leading sports betting and gaming brand in online and retail in Italy, Snai.
Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2C and B2B basis.
Playtech has in total c.6,000 employees across 21 countries and is headquartered in the Isle of Man.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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Update on COVID-19 impact on Snaitech business - RNS
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Playtech plc published this content on 09 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2020 16:47:00 UTC
