Online Gambling Developer Playtech Buys Again

Published Saturday, October 04, 2014 - Online-Casinos.com
Online Gambling Developer Playtech Buys Again

Playtech has a history of sharp deals that have helped build an empire in the online gambling software industry. Founded in 1999 and headquartered on the Isle of Man the firm provides software for online casinos, poker rooms, bingo gaming, sports betting, scratch games, mobile gaming, live dealer games and fixed-odds arcade games on the internet. Teddy Sagi owner and founder floated the firm early in 2006 on the London Exchange valuing the business at around £550 million.

On July 2013 Playtech acquired PokerStrategy.com, one of the largest poker communities in the world with almost 7 million members. Playtech employs 3,500 people as of August 2014 in twelve countries and territories and made a net profit of 488.8 million euro in 2013. Confirmed in a filing to the Australian Securities Exchange the gaming machine and casino management system specialist Aristocrat Technologies has completed the sale of its lotteries sector to online gambling software developer  Playtech. The deal was not a huge one compared to some recent acquisitions in the online gambling industry. The acquisition cost Playtech €10.5 million or $13.2 million in cash. Chief executive officer of  Aristocrat, Jamie Odell commented on the strategy of the firm, “With the recently announced acquisition of Video Gaming Technologies, Aristocrat is sharpening its focus on the business’ strategic strengths.” Odell continued, “In particular, we will continue to leverage our premium game content across priority, high value segments and markets, including North American gaming operations, digital and core outright sale markets.”  The CEO added, “The sale of the lotteries business will allow management to focus on these growth areas to deliver optimal returns on the group’s design and development spend.”

Playtech has been slowly and surely making its way to very top of its game since way back in 2006 when the American government shredded their online gambling and Playtech lost 40 percent of its value in just one day.

 

 

 

 

 

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