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Aristocrat Leisure Bid £2.7bn to Buy Playtech

Online gaming supplier and sports betting company Playtech has been the subject of a buyout offer from Australian counterpart Aristocrat Leisure. This is no shot in the dark. Aristocrat have offered £2.7bn for Playtech and the Playtech board have unanimously recommended that shareholders vote in favour of the deal.

Why does Aristocrat want Playtech?

The Australian bidder is looking to enhance its presence in the European gaming market and the Snaitech division of Playtech is already in place to help them fulfill this ambition. Their determination to seal this deal can be seen in the fact that the offer for Playtech represents a massive 58% premium on the closing share price of Playtech prior to the buyout news breaking.

Of course, a deal such as this works both ways. Mor Weizer the Playtech CEO commented:

This deal has the potential to enhance our distribution, our capacity to build new and deeper relationships with partners, and bolsters our technological capabilities.

The combination of our two companies builds one of the largest B2B gaming platforms in the world, with the people, infrastructure and expertise to provide our customers with a truly best-in-class offer across all areas of gaming and sports betting.”

Bingo players will be familiar with the Playtech bingo product that has operated for many years under the Virtue Fusion banner and includes sites in the UK such as Sun Bingo, Mecca Bingo and sites that take advantage of even more of what Playtech platforms have to offer such as bet365, Paddy Power and Betfair.

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