Playtech Purchases 90 Percent of Best Gaming Technology | PokerNews
Playtech has continued diversifying its business portfolio by acquiring a 90 percent stake in Austria-based Best Gaming Technology for a fee of €138 million.
The deal was announced to the London Stock Exchange, where Playtech is listed, a fortnight ago, and revealed Best Gaming Technology’s Chief Executive and founder Armin Sageder retains the remainder 10 percent of the company, and can remain in his current role for no less than three years after the deal is formally completed.
Best Gaming Technology (BGT) provides sports betting software for gaming and sports betting companies, and includes Ladbrokes, Paddy Power Betfair, and William Hill among its long list of clients.
BGT is healthier known for its proprietary software utilized in self-service betting terminals (SSBTs), which permits clients to take bets via a digital terminal, revolutionising the more traditional over-the-counter experience, and boasts of having the ability to generate greater than twice the quantity of rival SSBT providers.
In 2015, BGT generated revenue of €41.6 million, and pretax profit of €6 million.
Playtech’s Chief Executive, Mor Weizer, said of the deal: “BGT is the leading provider of sports betting software and solutions for gaming and sports betting operators in what's some of the fastest growing verticals of our industry. BGT offers the market’s most sophisticated retail sports solution that's also both modularised and flexible, allowing Playtech to quickly integrate with its own platform. Because the only company so that it will offer FOBTs and SSBTs, all integrated with the world’s leading online platform and products, Playtech will realise the opportunity of a real omni-channel offering for the advantage of both consumers and operators.”
The acquisition of BGT will help enhance the Playtech ONE omni-channel product, which permits customers access to anytime-anywhere gaming across any product, device, and channel, all while using a single account and wallet.
Playtech has invested heavily in recent years, with purchases equivalent to Aristocrat Lotteries for €10.5 million, the €208 million acquisition of TradeFX, a recruitment drive to create greater than 300 jobs, and the launch of a sports betting app for the Apple Watch.
The Israeli company needed to pull out of a £460 million deal to buy contract-for-difference trading business Plus500, and a $105 million purchase of Ava Trade, after regulators opposed the correct and refused to sanction it.
Playtech own the iPoker Network, the fifth-largest online poker network within the world, home to the likes of bet365, Betfair, Ladbrokes, NetBet, Paddy Power, Titanbet Poker, and William Hill’s online poker operations.
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