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Playtech CEO Critical of Acquisitions

PLAYTECH CEO CRITICAL OF PRESSURE TO MAKE ACQUISITIONS
 
Mor Weizer gives an insight into the pressures top management can face.
 
Mor Weizer, the seasoned and respected CEO of online gambling group Playtech plc, gave an insight into just one of the pressures top management can face from shareholders this week in his address to the World GES conference in Spain.
 
Discussing the industry trend toward consolidation, Weizer revealed that there is sometimes inappropriate pressure on chief executive officers to make acquisitions for the wrong reasons in pursuit of headlines and short term share boosts.
 
“There is some pressure on CEOs to do deals, which is not right,” he said. “Its typically CEOs of listed companies with money in the bank [who are affected], but they are constantly being asked when the next transaction is going to happen and what firms they are looking at.”
 
The correct way to approach acquisitions, Weizer suggested, was to clearly and objectively assess how much real value and diversity a target acquisition can add to an enterprise, and then have a comprehensive execution and integration plan post-acquisition to extract full value from any deal.
 
Weizer should know...over the past decade Playtech has successfully made 28 relevant and high value acquisitions, and he says the company has always taken a conservative and thorough approach…it considered fifty or more businesses over the past year alone, he revealed.
 
He predicted that in the current business and regulatory environment merger and acquisition activity is likely to continue on an international basis, although there was the immediate risk that the UK Brexit vote could induce some caution in parts of the market..

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Gambling News :

Malta Gaming Authority's half-year 2016 report - There are 490 gaming license in issue and 257 gaming companies in operation....in the first six months of 2014, those figures were 414 and 271 respectively;

Macau ATM Transaction Limit Lowered - The Monetary Authority of Macau moved quickly Friday to quell market concern caused by a newspaper report late Thursday that it was about to slash ATM limits in half .

Vegas Mobile Casino Gets Live Dealer Games - Vegas Mobile Casino has partnered with Swedish online gambling game developer NetEnt, which has supplied a new live dealer offering that includes desktop Blackjack and desktop and mobile Roulette.

Cosmic Crystals SLot Launches - 1X2 Gaming's latest online slot titled Cosmic Crystals is a 5 reel, 50 pay-line game with a futuristic outer space feel, gems galore, and features that include a sticky Wild reel, re-triggering Free Spins, Scatters and a claimed 95 percent RTP.

Playtech Live launches dedicated live roulette room - Playtech's live dealer arm, Playtech Live has launched a dedicated live roulette room operating from a fully custom-built studio bursting with colorful Christmas decorations.

Australian Open To Dunp Gambling Ads - Court-side advertisements, which have been criticized as promoting gambling and thereby contributing indirectly to the specter of match-fixing, are to be discontinued in 2017 from the Australian Open tennis championships, Tennis Australia has confirmed.

Olympique Lyonnais In Sponsorship Deal With FDJ - The agreement allows FDJ to introduce its ParionsSport betting terminals in the Parc OL stadium, and the promotion by the club of its website of the same name

BaFin CrackDown on Spread Betting - The UK Financial Conduct Authority's crackdown on financial and stocks spread betting via contracts for difference has been followed by similar moves in Germany, where the financial regulator BaFin announced similar new restrictions Thursday.

How is the CDC Group Spending its Money - Questions are being asked about how the UK government's private equity arm, the CDC Group plc (formerly the Commonwealth Development Corporation) spends the billions it is allocated to alleviate international poverty, The Guardian newspaper reported Friday.

Voodoo Slot Released - The Prague-based online gambling games developer Endorphina is going against the trend of Christmassy-themed offerings at this time of the year, instead going for the popular horror genre in its new slot Voodoo, released to operators today (Friday).

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