Aristocrat Buying PlayTech for $2.89 Billion

Aristocrat Leisure Limited, the top pokie machine manufacturer and gaming content and technology provider, has just made the last agreements with Playtech. The company is going to buy Playtech for $2.89 billion.

Aristocrat is well-known all over the world. The company offers a wide variety of products and services such as online gaming machines, casino management systems and mobile games. Their products are legally used in 300 licensed jurisdictions and can be found in more than 80 countries.

Playtech is one of the leading online slots software providers. It was right there at the beginning when the online gambling market took off.

1999

Playtech was established.

2001

The first Playtech casino was launched.

2003

Playtech launched live internet gaming

2004

the iPoker network was launched.

2005

They started Mobile Gaming

2006

the AIM market of the London Stock Exchange admitted Playtech shares.

Due to this agreement, it becomes clear why Playtech’s has decided to divest its Financials division – Finalto and Markets.com. Obviously, the company received some thrilling proposals, but buyers were not interested its non-core businesses.

Under the terms of the agreement, Playtech Shareholders shall get £6.80 in cash:

  • 58.4% to the Closing Price per Playtech Share in the mid of October;
  • 66% to the volume of average Closing Price within three months;
  • 55% to the volume of average Closing Price per Playtech Share over a year period.

The Playtech Directors find the terms of the Acquisition to be fair and reasonable.

Aristocrat claimed that they expected GGR (Gross Gaming Revenue) from online Real Money Gaming to reach $80 billion this year and $112 billion by 2025. They said, “Aristocrat’s acquisition of Playtech is consistent with its growth strategy and will create one of the largest business-to-business (“B2B”) platform providers in the global gaming industry.”

Trevor Croker, Aristocrat CEO, commenting the deal, said, “The proposed combination would bring together Aristocrat’s world-class gaming content and customer and regulatory relationships with Playtech’s industry-leading global online RMG platform (B2B) and European B2C footprint”. He added: “The business will be ideally positioned to unlock sustainable shareholder value by seizing opportunities in the fast-growing global online RMG segment as they continue to open up, particularly in North America.”

Brian Mattingley, Chairman of Playtech, said that for the past 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.”

Aristocrat is going to raise AU$1.3 billion, with investors able to acquire new shares at a price of AU$41.95 per share to help with the purchase.

We use cookies on casinobonus-ca.com to offer you more juicy experience. Read more on Cookie Policy page.
OK