Mor Weizer – Playtech targets next level acquisition

Having recorded its strongest ever revenue quarter (€116.5 million), Playtech CEO Mor Weizer stated that the igaming technology provider would look to make an acquisition which would “take Playtech to the next level”.

Ahead of regulatory changes being brought into the UK and European igaming markets, Weizer detailed that Playtech would look to make a major gaming acquisition by H1 2015.

In Q1 2014 Weizer had stated that Playtech would use acquisition as a corporate growth strategy, as Playtech looks to enhance its position as market leading igaming technology and provisions provider.

Q3 2014, had seen Playtech acquire Aristocrat lotteries, thus allowing it to enter the regulated WLA and VLT markets. Playtech further invested in igaming verticals, with the purchase of a 33.3% stake in UK igaming operator BGO (deal sum £10 million)

Mor Weizer did not disclose potential acquisition targets, however the CEO confirmed that Playtech had amassed considerable cash reserves in order to undertake a top tier acquisition for the gambling sector.

Weizer stated “We did identify and in some cases have even engaged with certain companies, the process is underway but given the size of the acquisition we are aiming at and the cash position of the company, we have to be highly confident that this is the right strategy the market expects but more importantly the right deal for the company,