Online Poker Software Firm Playtech Acquires PokerStrategy

Published Thursday, July 11, 2013 - Online-Casinos.com
Online Poker Software Firm Playtech Acquires PokerStrategy

Playtech has plans for recently acquired PokerStrategy.com. The British gaming software company has made known their agreement to purchase the online poker affiliate from its parent company, Etruvian Holdings Limited. The cost is a whopping 38.3 million euros which is at the current exchange rate is more than 49 million US Dollars.

According to a Playtech statement released recently they said that the acquisition would further strengthen its position in the online poker market. They explained that they were optimistic that by opening up the world’s largest independent poker school and furthering player community licensees the deal would help diversify its business profile adding, "thereby cementing existing relationships and creating incremental opportunities for both software and PTTS marketing.”

PokerStrategy.com and its affiliates had gross assets of about 18.5 million euros, Playtech said in a statement. In regards to profits before taxes the group and some of the acquired subsidiaries boast 19.5 million euros. In the regulatory statement Playtech admitted that they thought the strategy was a sound move, "given the combination of cost and revenue synergies, the acquisition is earnings enhancing".

Poker revenues for Playtech thus far haven't been stellar compared to its other businesses. It is thought that having PokerStrategy.com on board would allow more opportunities to adjust its poker business.

As there is no anticipated need for re-branding, the statement said, “PokerStrategy.com will stay fundamentally the same and maintain its independence in the market.”

Although, PokerStrategy.com is also expected to work closely with Playtech to help the software company upgrade its poker software, posted to their updated online poker website a statement explains, “We will continue working with all of our current partners and continue to add additional poker rooms for you to choose from, without any restrictions.” They expect as well to enhance the iPoker network with the aim of helping the iPoker network progress in its overall poker product.

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