Playtech PLC Acquisition (5997Q)
02 September 2014 - 6:00PM
UK Regulatory
TIDMPTEC
RNS Number : 5997Q
Playtech PLC
02 September 2014
Playtech plc
("Playtech" or the "Company")
Acquisition of Aristocrat's VLT business
Playtech (LSE: PTEC) today announces the bolt-on acquisition of
the Stockholm-based retail VLT businesses Aristocrat Lotteries AB
("ALAB") and Aristocrat Lotteries Italia s.r.l. ("ALI") from
Aristocrat Leisure Limited (ASX: ALL).
Together, ALAB and ALI provide a server-based gaming platform
for VLTs and Casino (Class III) markets to two leading retail VLT
operators in Norway and Italy, marketed under the well-established
'TruServ(TM) brand.
Consideration for the acquisition, which will be funded from
Playtech's existing cash resources, is an aggregate EUR10.5
million, subject to certain adjustments and satisfaction of closing
conditions. Completion is expected to take place by the end of the
month.
The purchase price and earnings result in a low double-digit
multiple, an attractive valuation with potential for further
growth, which complements and strengthens Playtech's existing
land-based operations.
The Board of Playtech believes the acquisition will position
Playtech's land-based operation as one of the leading suppliers of
VLT systems in Europe and Latin America, further extending its
reach and diversification across key regulated markets. The
transaction will also enable Playtech's land based division to
replicate its success with its Videobet solution in the UK,
increase market share within the wider global VLT market and create
cross-selling opportunities for other products and content in
existing as well as new jurisdictions.
- Ends -
Further information
Playtech plc
Mor Weizer, Chief Executive
Officer
Ron Hoffman, Chief Financial
Officer +44 (0)20 3772
c/o Bell Pottinger 2500
Adam Kay, Head of Investor +44 (0)20 7428
Relations 1776
Bell Pottinger
David Rydell / Olly Scott +44 (0)20 3772
/ James Newman / David Bass 2500
Forward looking statements
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements". By their nature,
forward-looking statements involve risk and uncertainty since they
relate to future events and circumstances. Actual results may, and
often do, differ materially from any forward-looking statements.
Any forward-looking statements in this announcement reflect
Playtech's view with respect to future events as at the date of
this announcement. Save as required by law or by the Listing Rules
of the UK Listing Authority, Playtech undertakes no obligation to
publicly revise any forward-looking statements in this announcement
following any change in its expectations or to reflect events or
circumstances after the date of this announcement.
About Playtech
Playtech develops unified software platforms and content for the
online and land-based gaming industry, together with providing a
range of ancillary services such as marketing, CRM services and
hosting.
The Group's capabilities enable the delivery of an integrated
software or turnkey solution, with players accessing 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 newly-regulated markets.
Founded in 1999, Playtech is listed on the London Stock Exchange
and has more than 3,400 employees located in twelve countries. Its
leading gaming applications include casino, bingo, poker, sports
betting, live, mobile and social gaming, casual and fixed odds
games.
www.playtech.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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