Looking to position the company as the independent software provider of choice for both the land-based and online gaming markets, Playtech Limited has acquired Intelligent Gaming Solutions (IGS), a provider of software based casino management systems to land-based casinos, in a deal worth up to £5.5m.
Playtech has entered into an agreement to acquire the entire issued share capital of IGS, which has installed casino software 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 £2.5m and a further consideration based on the profitability of the IGS business over the next three years, capped at a further £3.0m. The initial amount has been financed from Playtech's existing cash resources.
Playtech said that 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.
The company offers operators 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 subsidiary Videobet, and enhances Playtech's cross platform capability.
Playtech added that 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.
“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,” said Playtech chief executive Mor Weizer. “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 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.”
Shares in Playtech Limited have gained 1.14 per cent to 420.75 pence per share in early trading in London this morning. (Credit: Google News, Wires)
