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Playtech PLC, the FTSE listed company, has further strengthened its position within the sports betting market by purchasing Best Gaming Technology for €138 million.The ‘all cash’ acquisition of Best Gaming will see Playtech gain a 90% stake in the company, which is based in Vienna.Best Gaming Technology (BGT) specialises in retail based sports betting provisions, risk management, and multi-channel odds feeds.
First right
As part of the deal, BGT founder Dr. Armin Sageder will remain at the helm of the company. In addition to their own stake, Playtech have also been granted first right to secure the remaining shares, at a value of €55 million.
About BGT
At this time, Best Gaming Technology provides software and provisions for some 24,000 betting machines around Europe. BGT’s core markets are the UK, Ireland, Spain, Austria, and Germany.Industry insiders have commented that the acquisition was made in order to support Playtech’s customer omni-channel demands.Confirming the company’s new acquisition, Playtech Chief Executive Mor Weizer spoke of the importance of supplying the digital market.“We believe that the future of gaming is for retail operators to digitise their offering, creating an opportunity to extend beyond retail and into online including web and mobile.”“This follows the same trends we see in other commercial sectors around the world with the modernisation and digitisation of betting shops not only improving the retail experience but also adding a whole new channel as it integrates into an online offering.”
Acquisitions
Since 2010, Playtech have made a number of important acquisitions to strengthen different parts of their business, these have included UK bingo provider, Virtue Fusion, games aggregator GTS, games creator Ash gaming and more.With this newest acquisition of Best Gaming Technology, Playtech are further proving themselves as one of the leading forces in innovation in the online gambling world.