The world of online gambling has been buzzing the past few days. Namely, one of the world’s most famous and successful online gaming software giants, Playtech, has continued to put their cash resources to a good use and acquired a software developing rival, Best Gaming Technology, for €138m.
The Details of the Acquisition
If you’ve been following online casino industry news, you’ve surely noticed Playtech’s had a number of back outs so far. For example, in November they walked away from a £460m deal and didn’t go through with taking over a trading company Plus500. However, Playtech’s continued quest for digitization has brought them to Best Gaming Technology, one of the leading sports betting providers in the wagering industry.
Playtech is now the owner of 90% of BGT’s shares, while the option to acquire the remaining 10% remains open.
Fast forward to the abovementioned €138 million acquisition and this particular moment. Namely, Playtech now owns 90 percent of Vienna-based BGT, while the option for the rest of the shares to be bought at a later time has remained open. Still, Armin Sageder, the founder and chief executive of Best Gaming Technology, will remain part of the company for at least the next three years.
The Future Is in Digitization
Here’s what Mor Weizer, chief executive officer of Playtech, had to say about their ongoing digitization endeavours:
"We believe that the future of gaming is for retail operators to digitize their offering, creating a simple and intuitive experience for customers, as well as creating an opportunity to extend beyond retail and into online, including web and mobile.”
Playtech’s Omni-channel Development Continues
All in all, the purpose of the Best Gaming Technology acquisition is to further develop Playtech’s omni-channel offering and encourage digitalization of retail clients. So far Playtech has contributed to and supplied some of the most lucrative bookmakers in the United Kingdom and Spain, including Betfred Casino, Coral Casino, Ladbrokes Casino, Paddy Power Casino, Betfair Casino and William Hill Casino.
And not only that; Playtech’s recent acquisition of Quickspin, one of the leading game providers in the world, clearly announced the direction in which the software giant was heading. With every additional step Playtech takes, they are getting one step closer to the goal to digitize, improve and set the bar.
This latest bit of news just serves as proof: the future is already here and Playtech is at the helm.