Playtech On The Lookout For Acquisition Deals

by Renee Israel

Playtech Sees Gross Income Rise

Playtech it is on the lookout for interesting acquisition deals now that it
has hundreds of millions in cash in the bank from its recent sale of its shares
in the online arm of sports betting giant, William Hill.

The London listed online casino software and services provider recently sold
its 29% stake in William Hill Online to the group for £424 million, and CEO, Mor
Weizer said that Playtech is now looking at bid targets.

Speaking on Thursday last week, Weizer said: “We see exciting alternatives
and opportunities for the company given the firepower we now have.”

According to Weizer, Playtech is looking to enter into other joint ventures
or make a major acquisition.

Playtech is Seeking US Partnerships

There is major speculation that Playtech is set to sign a deal with a US
based group, which will allow the casino company to enter new markets as
gambling regulations change. The legislative landscape is also changing in many
European countries and Playtech is not ruling out expansion into their markets
either.

“We are in certain discussions with various groups with regards to different
types of partnerships in the United States,” said Weizer.

But while Playtech could use the cash to make a major acquisition, it hasn’t
ruled out a one-off windfall payout to investors. Weizer said that talk of
Playtech acquisition deals
is “not to suggest that there will be no
additional return.”

“We do understand that this is something expected,” he said.

Gross Income for Playtech Rises to €102.5m

Gross income for Playtech rose 16% to €102.5 million in the past three months
to the end of March. This included the €15 million share of profit from William
Hill Online.

Playtech promised to match or even raise last year’s interim dividend which
totaled 7.8c per share – representing a total €22.5 million payout to investors.

Weizer added: “Even though we will not generate a share of profit from
William Hill from mid-April, we are confident about the growth of the business.”

Article source: http://www.gamblingkingz.com/news/2013/04/29/playtech-on-the-lookout-for-acquisition-deals.asp

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Playtech On The Lookout For Acquisition Deals

by Renee Israel

Playtech Sees Gross Income Rise

Playtech it is on the lookout for interesting acquisition deals now that it
has hundreds of millions in cash in the bank from its recent sale of its shares
in the online arm of sports betting giant, William Hill.

The London listed online casino software and services provider recently sold
its 29% stake in William Hill Online to the group for £424 million, and CEO, Mor
Weizer said that Playtech is now looking at bid targets.

Speaking on Thursday last week, Weizer said: “We see exciting alternatives
and opportunities for the company given the firepower we now have.”

According to Weizer, Playtech is looking to enter into other joint ventures
or make a major acquisition.

Playtech is Seeking US Partnerships

There is major speculation that Playtech is set to sign a deal with a US
based group, which will allow the casino company to enter new markets as
gambling regulations change. The legislative landscape is also changing in many
European countries and Playtech is not ruling out expansion into their markets
either.

“We are in certain discussions with various groups with regards to different
types of partnerships in the United States,” said Weizer.

But while Playtech could use the cash to make a major acquisition, it hasn’t
ruled out a one-off windfall payout to investors. Weizer said that talk of
Playtech acquisition deals
is “not to suggest that there will be no
additional return.”

“We do understand that this is something expected,” he said.

Gross Income for Playtech Rises to €102.5m

Gross income for Playtech rose 16% to €102.5 million in the past three months
to the end of March. This included the €15 million share of profit from William
Hill Online.

Playtech promised to match or even raise last year’s interim dividend which
totaled 7.8c per share – representing a total €22.5 million payout to investors.

Weizer added: “Even though we will not generate a share of profit from
William Hill from mid-April, we are confident about the growth of the business.”

Article source: http://www.gamblingkingz.com/news/2013/04/29/playtech-on-the-lookout-for-acquisition-deals.asp

Tags: , , , , , , , , , , ,

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