GGPOKER LAUNCHES DUTCH SITE AFTER SECURING KSA LICENSE

October 20, 2021 Off By Steven Anderson

Source : Ayo News

Australia-based gaming content and tech supplier Aristocrat has agreed to acquire gambling technology company Playtech for GBP£2.1 billion.

The acquisition will see Playtech shareholders receive 690 pence in cash for each Playtech share, and values the entire ordinary share capital at approximately £2.1 billion on a fully diluted basis, and the company at approximately £2.7 billion on an enterprise value basis.

According to Aristocrat, Playtech’s Real Money Gaming (RMG) experience and platform capabilities will complement its own land-based and social gaming content, and provide it with material scale in the iGaming and online sports betting segment. The company also believes the combined group will be well positioned to unlock sustainable shareholder value by taking advantage of opportunities in the global online RMG segment, particularly in North America.

Commenting on the acquisition, Brian Mattingley, Chairman of Playtech, said: “In recent years, Playtech has successfully repositioned its world leading gambling technology and operations, expanding in strategically important regulated markets and driving major online B2B revenue growth. Whilst the business has made significant progress, most notably in the Americas, Aristocrat’s proposal provides an attractive opportunity for shareholders to accelerate Playtech’s longer-term value.”

While Mor Weizer, CEO of Playtech, commented: “This transaction marks an exciting opportunity in the next stage of growth for Playtech, and delivers significant benefits to our stakeholders, including our customers, our shareholders and our incredibly talented people. This deal has the potential to enhance our distribution, our capacity to build new and deeper relationships with partners, and bolsters our technological capabilities. The combination of our two companies builds one of the largest B2B gaming platforms in the world, with the people, infrastructure and expertise to provide our customers with a truly best-in-class offer across all areas of gaming and sports betting.”

At the time of press, Aristocrat had said that both the Playtech board and its largest shareholder, with nearly a 21% stake, had expressed their support for the acquisition.

Staying with Playtech, at the end of September, the company agreed to sell its financial trading division, Finalto, to Gopher Investments for US$250M.