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[September 03, 2014]
Playtech looks to boost its land gaming with €10.5m takeover
(City A.M. (UK) Via Acquire Media NewsEdge) GAMBLING software firm Playtech, whose shares leapt 8.6 last week after it reported soaring profits in the first half of the year, yesterday announced it had acquired two video lottery machine companies in Norway and Italy for €10.5m (£8.33m).
Video lottery allows players to bet on the outcome of a video game, often replicating traditional slot machines but run by a computer.
On its acquisition of Aristocrat Lotteries and Aristocrat Lotteries Italia, Playtech said: "The acquisition will position Playtech's land-based operation as one of the leading suppliers of VLT [video lottery terminal] systems in Europe and Latin America." Last Thursday, Playtech, whose clients now included Trinity Mirror and Mexican gambling firm Cali-ente, reported a 21.2 per cent jump in revenues to €214.4m with adjus-ted profit up 44.8 per cent to €96.8m during the first half of 2014.
The takeover is expected to close by the end of the month.
Playtech shares closed down 0.21 per cent per cent at 716.50p.
(c) 2014 City A.M.
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