Leading online gambling platform, content, and service provider Playtech is handing over the reins of its German sports betting brand, Happybet, to NetX Betting, a subsidiary of German gambling operator pferdewetten.de AG.
The Shift Continues
The move marks a key milestone in Playtech’s shift away from consumer-facing operations as it continues to focus solely on Business-to-Business technology services.
As part of the agreement, pferdewetten.de AG will be given the opportunity to negotiate directly with the franchisees currently running Happybet’s retail outlets throughout Germany.
The company will also take ownership of certain physical assets, including around 600 hardware units such as betting terminals and POS systems.
The handover depends on the success of negotiations with franchise partners as well as on German regulators’ final approval.
A transition period is currently underway, during which pferdewetten.de will work to finalise agreements and secure the green light to proceed.
Any assets not taken on by the German firm will be shut down, according to Playtech. The deal follows the company’s earlier announcement, made in March 2025, that it was looking to offload what remained of the Happybet business after winding down its Austrian operations in late 2024.
Strategic Expansion for pferdewetten.de
For pferdewetten.de, this acquisition represents a strategic expansion of its growing retail footprint.
Known primarily for its horse racing betting platform, the Düsseldorf-based company has been steadily increasing its presence in the broader sports betting market since 2018.
“We expect a mid-double-digit number of shops to be integrated into our network in the next three months,” said Pierre Hofer, chief executive officer of pferdewetten.de AG.
Hofer added that the growth would correspond to a projected additional annual revenue of roughly €7 million ($7.93 million) as well as a positive EBITDA contribution of over €1 million ($1.13 million).
Hofer also emphasised the smooth nature of the “closely coordinated” process that will enable them to “implement the transition without any significant disruption to business operations and without additional approval costs.”
With this latest step, Hofer believes the company that aims to reach a turnover mark of €48 million ($54.4 million) by next year and become the No.2 name in the world of sports betting is “significantly closer” to its goal of operating over 300 land-based shops under the sportwetten.de brand by the end of 2025.
Playtech originally acquired Happybet through its Italian subsidiary Snaitech in 2021 and invested in upgrading the brand’s tech stack. However, despite the improvements, the business continued to struggle financially and was left out of Playtech’s $2.6 billion sale of Snaitech to Flutter Entertainment.