Playtech Makes Deal with Virtue Fusion

Playtech has acquired Virtue Fusion as part of Playtech’s wider strategy of focusing on regulated markets. This deal will also see the company position itself to capitalise on its new strength in bingo with it's links to the most active online gambling market in Europe, namely Italy. Currently the legality of Bingo in Italy is under review but is expected to be cleared for consumption soon. Playtech is hedging it's bets with the acquisition of Virtue Fusion looking at what is called a business to government strategy. This is one where private companies work with government run regulated lotteries in joint ventures that are mutually profitable and totally transparent. Playtech has a track record that is impressive in this category with world wide connections as suppliers of online gambling products to many state governments. The deal with Virtue Fusion will grow Playtech’s existing bingo network, of around 1000 players simultaneously, to an average of 7,000 players. The $36 million dollar deal with Playtech and software provider Virtue Fusion will give access to some of the biggest bingo operators out there, including Bet365, Crown Bingo, Ladbrokes, Mecca, Paddy Power, Sky, Virgin and Playtech joint venture partner William Hill. Playtech provides numerous online gaming titles including amongst others William Hill Poker, William Hill Casino, Titan Poker and Titan Casino.
In a statement by the CEO of Playtech they said they take this acquisition as not only expanding what is previously the company's competitive advantage in the increasing online gaming market as a whole, but as having the possibility to produce significant chances in newly regulated markets. This is an acquisition that is an example of consolidation efforts currently focusing on the expanding newly regulated markets for online gambling of all sorts. Companies who see this as a focus and spend the capital needed to expand into the emerging jurisdictions are going to reap the benefits in spades.