Playtech is reportedly exploring the sale of its German-facing sports betting operator, Happybet, NEXT.io has learned. The company has engaged London-based Oakvale Capital as an advisor, according to industry sources familiar with the matter.
The brand currently operates over 100 betting shops across Germany and Austria, in addition to an online betting platform.
Despite efforts to grow its presence in the region, the business has faced persistent financial difficulties.
In 2021, Playtech-owned Snaitech integrated Happybet into its operations, upgrading its technology infrastructure and enhancing its offerings. Despite these initiatives, Happybet continued to be loss-making, and Playtech already announced plans to close Happybet’s Austrian operations in H2 2024.
