Online Gambling's Playtech Set in Acquistion Mode

Published Friday, September 11, 2015 - Online-Casinos.com
Online Gambling's Playtech Set in Acquistion Mode

When it comes to movers and shakers the people behind Playtech’s success certainly hold their own. Playtech has had an interesting history as it moves forward by utilizing an old tried and proven business strategy called diversification. Recent moves for the online gambling software giant have included its expansion into the forex realm. Teddy Sagi the founder of Playtech after having spent over $1 billion this year on its foray into forex trading is still on the merger and acquisition hunt.

Multiple acquisitions were made in 2010 and integrations began making Playtech a leading provider for multi-channel gaming products including leading games company  GTS,  Bingo provider, Virtue Fusion, online gambling games studio, Ash Gaming, mobile gaming enabler, Mobenga, Affiliate marketing specialist, PTTS and a provider of management systems, Intelligence Gaming. Following these acquisitions Playtech’s licensees were able to integrate online and onsite operations.

In 2015 5he trend continues for Playtech as Chief Executive Officer Mor Weizer told Reuters recently, “We definitely intend to continue considering certain additional M&A opportunities going forward, for both gaming and online CFD trading," CFD, or contract-for-difference  trading lets a buyer  trade without actually owning the underlying asset sort of the old ‘bucket shop’ approach to gambling on the future price of beans.  Weizer a veteran at the company for some time said, "I think given the size and position of Playtech, we can afford to do larger acquisitions," Weizer added,  "We definitely see a further opportunity for Playtech to further extend and support companies in the process of their merging," The mergers and consolidation of some of Playtech’s customers would spell good financial prospects for the firm as demand grows. Playtech, which has a market value of approximately 2.9 billion pounds ($4.3 billion), and cash equivalents of 780.3 million euro ($881 million) as of June end and growth is expected for this sixteen year old company headquartered in the Isle of Man.  

 

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