News Column

Playtech looks to boost its land gaming with €10.5m takeover

September 3, 2014

OLIVER SMITH



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.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: City A.M. (UK)


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