Playtech acquires Intelligent

RNS Number : 0187A

Playtech Limited

25 January 2011

 



Playtech Limited

('Playtech' or the 'Company')

Playtech acquires Intelligent Gaming Solutions (IGS)

Playtech (AIM:PTEC), the leading provider of software to the online, mobile and land-based gaming sector, today announces it has entered into an agreement to acquire the entire issued share capital of Intelligent Gaming Solutions (IGS). IGS is a rapidly growing provider of software based casino management systems to land-based casinos and has installed systems in nine casinos, including the Aspers Group properties in the UK and the Regency Casinos in Greece. 

The consideration for the acquisition of IGS comprises an initial amount of £2.5 million and a further consideration based on the profitability of the IGS business over the next three years, capped at a further £3.0 million. The initial amount has been financed from Playtech's existing cash resources.

IGS has developed an enterprise-level suite of casino management software which manages table gaming, poker, and slots including cashless gaming CRM, loyalty, and cash desk operations. It offers an operator modern scalable architecture and the ability to manage its entire gaming business information through a single application. The system delivers real-time analysis of the gaming floor and helps optimise CRM efforts, achieving enhanced player value. 

For Playtech, the acquisition brings a highly regarded management team and software development capability in a business area that is complementary to its existing business, in particular Videobet, and enhances Playtech's cross platform capability. As land-based operators look to develop an online presence, the casino management system provides a gateway to the integration of both formats in an integrated and seamless solution across all channels.

Commenting on the acquisition Playtech's Chief Executive, Mor Weizer, said:

"The convergence of land-based and online segments is becoming a key theme in the industry and we continue to position Playtech as the independent software provider of choice with market leading integrated technology. We see this deal as increasing Playtech's unique competitive advantage and cross-platform capabilities."

"The IGS management team has a long track record in the development of such systems and we are delighted to welcome them into the Playtech family. They will enhance our capabilities in a product area which will further our attractiveness to land-based operators."

IGS's founder, Martin Sykes, added:

"This deal will underpin the growth of IGS and we very much look forward to the future as part of the Playtech team, contributing to the development of a leading cross-platform solution. Playtech's Videobet software has set new standards in server-supported gaming and the IGS solution will extend the Videobet portfolio throughout the land-based operation."

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For further information contact:

Playtech Ltd Mor Weizer, Chief Executive  Shuki Barak, Chief Financial Officer Ross Hawley, Director of Investor Relations c/o Pelham Bell Pottinger	[phone]
Collins Stewart Piers Coombs / Bruce Garrow	[phone]
Deutsche Bank Mumtaz Naseem/ Andrew Smith	[phone]
Pelham Bell Pottinger David Rydell / Olly Scott / Guy Scarborough	[phone]

About Playtech

Playtech develops unified software platforms and content for the remote and land-based gaming industry. Leading gaming applications include casino, poker, bingo, sports betting, live gaming, casual and fixed odds games. Playtech provides licensees with the tools to maximise cross-selling opportunities, player loyalty and yield, all through the powerful management interface - the IMS. The system's fully integrated, cross-platform capability enables players to access online, broadcast, mobile and server-based gaming terminals, through a single account.

New licensees include existing online operators upgrading or diversifying their offering, land based casino groups, government sponsored entities such as lotteries, and new entrants making their online gaming debut, particularly in the newly regulated markets.

Founded in 1999, Playtech is headquartered in the Isle of Man and has over 1,000 employees located in development centres in five countries, the majority of whom are engaged in research and development of current and future gaming technologies.

www.playtech.com 

 

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