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PLAYTECH HAS BIG ACQUISITION SPENDING PLANS
Playtech plc's chief finance officer Shuki Barak has revealed that the software developer has some ambitious spending plans in its acquisition strategies, with a number of targets in mind that include an as yet unidentified marketing business which could be the subject of a $750 million takeover deal
In an interview with the publication Mergermarket, Barak said that Playtech has a call option on the undisclosed target, based on a 5.5x multiple over annual profits of $500 million. The company holds the option until March 2011.
Commenting that the deal will dwarf Playtech's $250 million involvement in William Hill Online (see previous InfoPowa reports), Barak said that the company is additionally considering four smaller targets including a hosting provider, a customer services specialist and a payment advisory firm, and is set to seal between 10 and 15 licensing agreements before the end of 2009.
Barak confirmed that Playtech was not interested in troubled operations such as Codere in Spain, preferring to remain as far as possible focused on software development rather than direct operational matters.
"As a pure software supplier we have no intention of going into operations as it would create a conflict of interest," Barak said. "We could only consider a minority stake investment in a gaming operator, but this is unlikely to happen in the short term.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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