Playtech Online Gambling Software Integrates Affiliate Businesses

Published Thursday, March 10, 2011 -

The Isle of Man-based online gambling software provider Playtech has announced the acquisition of PT Turnkey Services Ltd. from Worldwide Online Enterprises Ltd. for an initial cash outlay of 140 million Euro.  Playtech recently posted a 10 percent rise in its 2010 profits and said it had acquired the group of software services businesses in order to drive its growth in regulated and soon to be regulated markets.

PT Turnkey Services Limited is a business to business services provider. A spokesperson from Playtech explained that once implemented, the deal will see the PT Turnkey Services group providing marketing and ancillary services to operators of online gaming businesses. These will be comprised of four separate service divisions; marketing, operations, payment advisory and network management.

Mor Weizer, the Chief Executive Officer of Playtech, commented on the deal, "The increasing opportunities for Playtech to provide its services in regulated markets have significantly increased the strategic and commercial rationale for these affiliate businesses to be part of Playtech. Integrating these affiliate businesses into the group will enable us to provide current and future customers with a full service market leading offering. Playtech will be able to provide its licensees with a range of services up to a full turnkey solution for all their online gaming needs.  This makes our proposition particularly attractive to those businesses looking to operate in newly regulated markets and wanting a fully functioning and highly competitive offering from day one.
Weizer continued, "This is a highly complementary acquisition, allowing Playtech to integrate market leading support services into its primary technology and content provision business. It represents excellent value, is earnings accretive for our shareholders and has a significant performance related element of the consideration to be funded out of future cashflows. The acquisition provides an immediate and growing revenue stream in its own right. Having worked intimately with these affiliate businesses over a long period of time, we can take great comfort around a successful integration and are excited by the prospects for the enlarged group."


Related news

Return to Latest News