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Scientific Games to purchase Barcrest

American lottery firm is set to spend up to £35 million in order to acquire IGT’s gaming content and machine supply business.

Thursday 28th April 2011

American lottery firm Scientific Games Corporation has entered into a definitive agreement to acquire the Barcrest Group Limited subsidiary from International Game Technology (IGT) for approximately 33 million. Barcrest is a leading supplier of gaming content and machines in Europe with Scientific Games stating that the deal is subject to ‘certain post-closing adjustments’ and includes up to two million pounds in deferred consideration, the payment of which is dependent upon ‘the satisfaction of certain conditions relating to a third-party contract’. The purchase is anticipated to have been completed over the course of the third quarter when Barcrest will be integrated into Scientific Games' Global Draw and Games Media gaming divisions and is conditional upon obtaining UK competition approvals and ‘certain third-party consents’. “This transaction represents a major step forward in strengthening and expanding our server-based gaming content,” said Ian Timmis, Chief Executive Officer for Global Draw and Games Media. “In addition, it will provide the opportunity for us to bring the advanced capabilities of our state-of-the-art gaming systems and operational expertise to new wide area gaming venues such as UK-based gaming centres and bingo halls along with venues in Italy and the Czech Republic.” Scientific Games declared that the acquisition is anticipated to enhance its business by adding Barcrest’s ‘expansive library of gaming titles’ to its existing content portfolio and digital delivery network while extending its UK server-based gaming presence to new betting shop and pub locations in addition to complementary venues such as bingo halls and gaming centres. In addition, Scientific Games will gain access to new video lottery customers in Italy and the Czech Republic as well as providing an existing base of business in interactive gaming. “We believe there are significant benefits that may be achieved by distributing Barcrest's content across our server-based gaming businesses as well as offering games through additional delivery channels including Internet and mobile.” said Lorne Weil, Chairman and Chief Executive Officer for Scientific Games.

Source: OnlineCasinoNews

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