Playtech eyes further corporate acquisitions

Playtech Chief Executive Mor Weizer and company chairman Alan Jackson, made public that the igaming software and services provider was on the look-out for potential acquisitions in the coming months.

Playtech are reported to be sitting on a €527 million (£427 million) cash balance, after the software provider paid out €188 million (£152 million) in exceptional and ordinary dividends for 2013 performance.

Weizer and Jackson stated that Playtech was monitoring the igaming field closely, looking for the best value deals that would enhance the corporation and its product line. Jackson further stated that acquisition and integration of companies to Playtech had become a core competency, noting the successful purchases of bingo software provider Virtue Fusion in 2008 and most recently last July’s acquisition of online poker portal – PokerStrategy.com

Playtech will continue to focus its operations on regulated igaming markets. However Jackson moots that the provider is keeping a close eye on the US and Asian markets. The Playtech board are looking to further its presence through potential strategic partnerships with established land based operators