IGT to Acquire Swedish Internet Gambling Firm Entraction

Published Thursday, May 05, 2011 - Online-Casinos.com

International Game Technology recently announced its plan to expand its online gambling world by acquiring Swedish online gambling firm Entraction Holding. Entraction was established in 2000 and is now one of the world's foremost suppliers of products and services for online gaming. Entraction is an independent supplier and operates one of the world’s largest poker networks. In addition to software for betting, bingo, casino and poker, customers have access to all the tools and peripheral services they need to operate a successful gaming site. Customers also have access to one of the world's fastest growing poker networks. The system has over two million registered players from Europe.

In 2008, Entraction launched European Masters of Poker™ together with partners in the poker network and some of Europe's best and most exclusive casinos. Entraction is a wholly owned subsidiary of Goldcup 6663 AB, which it said is changing its name to Eagle One AB.
The deal that International Game Technology has struck with Entraction is valued at approximately $115.3 million US Dollars. IGT said it would finance the acquisition with cash available from its balance sheet.

International Game Technology is a company based in Nevada USA that specializes in the design, development, manufacturing, sales and distribution of gaming machines and network system products internationally, as well as online and mobile gaming solutions for regulated markets. The company‘s main offices are in Las Vegas and Reno Nevada USA. Outside of the USA the company has been involved in online gaming since 2005.
Entraction's board will recommend the offer to its shareholders, Entraction Chairman Borje Fors said in a prepared statement. Entraction's main shareholder, board member Henrik Kvick, has undertaken to accept the offer under certain conditions.
IGT CEO Patti Hart commented on the deal, "It strengthens our interactive portfolio by adding poker, bingo, casino and sports betting. This combination will drive enhanced value for our global customers and partners,''


 

 

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