Playtech has announced the sale of its German B2C betting brand, HappyBet, to a subsidiary of Frankfurt-listed Pferdewetten AG, NetX Betting. The deal was announced on Wednesday, marking another step in Playtech’s strategy to exit consumer-facing operations and focus on B2B services. 

This agreement comes two months after Playtech began formally exploring the sale of HappyBet. Pferdewetten welcomed the acquisition as a key development in its expansion strategy. 

“The agreement significantly strengthens the market position of Pferdewetten in the stationary sports betting business and marks another milestone on the company’s growth path,” the company said in a statement.

Transition and Operational Details

The acquisition will provide Pferdewetten with approximately 600 hardware units, including betting terminals and point-of-sale (POS) systems. While financial terms of the deal have not been disclosed, a transition period will allow the company to negotiate with HappyBet franchise partners and secure the necessary regulatory approvals. 

During this transition, HappyBet’s franchise partners will continue operating their betting shops under Pferdewetten’s Sportwetten.de brand. The integration is projected to generate an additional annual turnover of approximately €7 million and contribute over €1 million in positive EBITDA, according to Pierre Hofer, CEO of Pferdewetten. 

Financial Impact and Strategic Context

Playtech reported an adjusted EBITDA loss of €11.8 million for the HappyBet business in the 2024 financial year. Despite a 4% increase in revenue to €18.9 million, rising operational costs pushed the business into the red. HappyBet was incorporated into Playtech’s Italian-facing brand Snaitech in 2021 and had secured one of the first federal sports betting licences in Germany in October 2020. However, the brand has struggled in a highly competitive market.

Playtech’s Shift Toward B2B Operations

The sale of HappyBet follows Playtech’s larger divestment of its Snaitech business in Italy to Flutter Entertainment. This transaction was completed last year and valued at €2.30 billion, describing Playtech as a large value creation event for shareholders. 

As part of the deal, Playtech plans to return between £1.7 billion and £1.8 billion to shareholders through a special dividend, translating to £4.56 to £4.83 per share. Chief Executive Mor Weizer noted that while Snaitech played a crucial role in the group’s growth, the divestment presents a compelling opportunity to maximise shareholder value. Playtech’s pivot to a B2B model will boost technological innovation, strengthen existing client relationships, and expand its global footprint. As of May 28th, 2025, Playtech shares were down 0.93 percent at 319.50 pence in London, while Pferdewetten AG shares climbed 6.83 percent to €2.97 in Frankfurt.