Playtech has taken another clear step in its strategy to exit the consumer-facing gambling market. The company has finalized an agreement to sell its German sports betting brand HappyBet to NetX Betting, a subsidiary of Pferdewetten AG. The move is part of a broader plan to offload non-core businesses and concentrate on B2B operations.
Good to know
- HappyBet reported a €11.8 million EBITDA loss in 2024, despite a slight revenue increase.
- Pferdewetten expects over €1 million EBITDA boost from integrating the shops.
- The sale includes around 600 betting terminals and point-of-sale devices.
Playtech has agreed to transfer control of HappyBet’s German business to NetX Betting, aligning with its strategy to reduce exposure to B2C operations. The transaction provides Pferdewetten with new opportunities in the German retail betting market, allowing it to rebrand HappyBet shops under the Sportwetten.de name.
As part of the deal, franchise partners running existing HappyBet shops can choose to continue under the new ownership. NetX Betting will handle these negotiations and seek approval from German state regulators during a formal transition phase.
Financial losses drove the decision
The sale follows a year of weak financial performance for HappyBet. Playtech’s 2024 report showed an adjusted EBITDA loss of €11.8 million for the brand, even though revenue climbed slightly to €18.9 million. The cost burden outweighed gains, and Playtech had already shut down operations in Austria while warning that its German arm could face closure if no buyer was found.
Now, with a buyer confirmed, any remaining assets not transferred to Pferdewetten will be shut down.
Pferdewetten AG, which is listed on the Frankfurt Stock Exchange, expects to integrate a substantial portion of the HappyBet retail network within three months. According to CEO Pierre Hofer, “We expect a mid-double-digit number of shops to be integrated into our network in the next three months. This corresponds to an expected additional annual turnover […] of around €7 million and a positive EBITDA contribution of over €1 million.”
The deal includes physical assets like self-service betting terminals and in-shop systems—around 600 units in total. These will be absorbed into Pferdewetten’s retail structure and aligned with its Sportwetten.de offering.
Pferdewetten said the acquisition strengthens its position in German sports betting and expands its footprint in retail betting locations across the country.
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