Happybet Franchise Transferred to pferdewetten.de by Playtech
Playtech Offloads German Sports Betting Brand to pferdewetten.de AG
Playtech, a leading online gambling provider, is transferring its German sports betting brand, Happybet, to NetX Betting, a subsidiary of German gambling operator pferdewetten.de AG. This move reflects Playtech's ongoing strategic shift away from consumer-facing operations towards Business-to-Business technology services.
The deal allows pferdewetten.de AG to engage directly with franchisees running Happybet's retail outlets across Germany. Additionally, the company will acquire approximately 600 hardware units, including betting terminals and POS systems. The transfer, however, is contingent on successful negotiations with franchise partners and final approval from German regulators.
A transition period is underway, during which pferdewetten.de will finalize agreements and secure regulatory approval to proceed. Any assets not taken on by the German firm will be shut down, according to Playtech. The decision comes after Playtech's announcement in March 2025 that it was seeking to offload what remained of the Happybet business following the winding down of its Austrian operations in late 2024.
For pferdewetten.de, this acquisition serves as a strategic expansion of its growing retail footprint. Known primarily for its horse racing betting platform, the Duesseldorf-based company has steadily increased its presence in the broader sports betting market since 2018. Pedro Hofer, CEO of pferdewetten.de AG, expects a mid-double-digit number of shops to be integrated into its network in the next three months. Integration is anticipated to generate an additional annual revenue of around €7 million and a positive EBITDA contribution of over €1 million.
This transaction strengthens pferdewetten.de's market position in the stationary sports betting sector, accelerates its growth trajectory, and provides new revenue streams through the expanded franchise network and associated hardware. The transition period will facilitate a smooth integration into pferdewetten.de's existing business.
Playtech originally acquired Happybet through its Italian subsidiary Snaitech in 2021. Despite significant investments in upgrading the brand's tech stack, the business continued to face financial challenges, ultimately being left out of Playtech's $2.6 billion sale of Snaitech to Flutter Entertainment. The sale is part of a broader realignment for Playtech aiming to return value to shareholders and reduce exposure to underperforming Business-to-Consumer assets.
Sports betting is set to expand for pferdewetten.de AG as they acquire Playtech's German sports betting brand, Happybet, which includes online gambling services. Technology plays a crucial role in this transition, with approximately 600 hardware units set to be transferred to the German firm.
