FTSE-listed Playtech Plc continues to strengthen its position within the sports betting market by confirming to acquire Best Gaming Technology for €138 million (£115 million).
The ‘all-cash’ acquisition sees Playtech secure a 90% stake in the Vienna-based company, which specialises in retail based sports betting provisions, risk/ liability management and multi-channel odds feeds.
The announced deal will see BGT founder Dr. Armin Sageder remain as leader of the company. Playtech has additionally been granted first right to secure the remaining shares of the company at a value of €55 million.
At Present BGT provides software and provisions for approximately 24,000 betting machines, with its core markets in the UK, Ireland, Spain, Austria and Germany. Industry commentators have stated that Playtech governance carried out the acquisition in order to support its ongoing customer omni-channel demands, a key corporate initiative.
Confirming its new acquisition, Playtech Chief Executive Mor Weizer commented
“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.”