Playtech PLC is improving its position in the sports-betting market after acquiring software provider Best Gaming Technology (GmbH) for $152.6 million. By acquiring GmbH, Playtech becomes a large scale provider of sports betting machines, which will complement the company’s already strong position in casino-style games machines, according to Playtech Chief Executive Mor Weizer.
The acquisition also means that online gambling companies that use Playtech machines like Casino.com, which is already one of the leaders in online gaming, with games like Jackpot Giant, the Incredible Hulk, and Gladiator, might offer their customers more games and bigger payouts.
Playtech’s acquisition also means the company will now have access to other online gaming and sports betting companies from the top online gaming sites and clients of Best Gaming Technology before the acquisition.
Best Gaming Technology is best known for the software used in self-service betting machines, which allows clients to take bets using a digital terminal. The company revolutionized the traditional over the counter experience, and is expected to generate more than twice the volume of rival providers, which is why the company was in such high demand.
According to recent reports, Best Gaming Technology generated a revenue of $45.6 million, and a pre-tax profit of $6.5 million.
After the deal was announced, Weizer called Best Gaming Technology the industry leader in providing technology for sports betting and online gaming operators, in what he called “one of the fastest growing verticals in the industry”.
Industry experts believe the acquisition will enhance Playtech’s ONE Omni-channel product, which lets customer’s access games across any platform while using a single account or wallet. Playtech believes its acquisition of Best Gaming Technology will reinforce its position in the United Kingdom, Spain and Italy.
Since Playtech was founded in 1990, the company has been busy acquiring other companies. In May, it acquired Swedish online slot machine provider Quickspin AB for EUR50 million. The company also acquired Aristocrat Lotteries and TradeFX in recent years, in a move to create more than 300 jobs.
Playtech also attempted to buy Plus500, a company providing online trading services to retail customers, as well as Ava Trade, but the company had to pull out of both deals because regulators opposed the deals and refused to sanction them.
Despite the setbacks, Playtech still intends to expand into financial trading and will attempt to build its presence here in the near future.
Playtech is owned by Israeli billionaire Tedi Sagi.