9th Mar 2020 18:02
(Alliance News) - Betting and gaming firm Playtech PLC on Monday said all of its Snaitech branches in Italy have closed following government action.
Italy has become a hotspot for the virus outside of China, with 16 million people in various northern provinces currently quarantined. There are now over 7,000 cases and more than 350 deaths.
The Italian government has ordered all betting shops, arcades, and bingo halls closed across the entire country until April 3.
However, Playtech said online operations may be able to mitigate some of the impact. Further, the increase in market volatility has led to a "very strong" performance from TradeTech, its trading platform.
At the end of February, when reporting annual results, Playtech said Snaitech had an "outstanding" 2019. The new year had also gone well, though it did note at the time coronavirus had hit trading slightly.
Shares closed 8.3% lower on Monday in London at a price of 213.29 pence each.
By George Collard; [email protected]
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