Leading provider agrees a deal to purchase supplier of software based casino management systems to land-based casinos.
Thursday 27th January 2011
Leading software provider Playtech has entered into an agreement to purchase the entire issued share capital of Intelligent Gaming Solutions (IGS), a supplier of software based casino management systems to land based casinos including the Aspers Group properties in the UK and the Regency Casinos in Greece.
Playtech will pay an initial £2.5m for IGS with a further consideration, capped at £3m, based on the profitability of IGS over the next three years.
Mor Weizer, Playtech's Chief Executive said, 'The convergence of land-based and online segments is becoming a key theme in the industry and we continue to position Playtech as the independent software provider of choice with market leading integrated technology. We see this deal as increasing Playtech's unique competitive advantage and cross-platform capabilities.'
'The IGS management team has a long track record in the development of such systems and we are delighted to welcome them into the Playtech family. They will enhance our capabilities in a product area which will further our attractiveness to land-based operators.'
IGS's founder, Martin Sykes, added, 'This deal will underpin the growth of IGS and we very much look forward to the future as part of the Playtech team, contributing to the development of a leading cross-platform solution. Playtech's Videobet software has set new standards in server-supported gaming and the IGS solution will extend the Videobet portfolio throughout the land-based operation.'