Playtech PLC on Wednesday said it has received all regulatory approvals to sell its financial trading division Finalto to Gopher Investments.

Playtech expects the sale for $250 million in cash to close on June 30.

‘The completion of the transaction is a significant step in Playtech’s stated strategy to simplify the group and to focus on its technology led offering as a pure-play business in the high growth business-to-business and business-to-customer gambling markets,’ the Douglas, Isle of Man-based online gaming and sports betting firm said.

Shareholders had approved the sale back in December.

Playtech shares were 3.4% higher at 524.00 pence each in London on Wednesday morning.

Playtech is awaiting a firm takeover offer from TTB Partners Ltd. TTB has a deadline of Friday under UK takeover rules.

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