Israeli billionaire Teddy Sagi’s Playtech plc, has acquired a 90percent stake in Austrian rival Best Gaming Technology (BGT) for €138 million ($152.6 million) in cash.
Playtech strengthen its position in the U.K., Spain and Italy, the sports-betting market. The acquisition means Playtech will now be a large provider of machines for sports betting, complementing its strong position in casino-style games machines, Playtech CEO Mor Weizer said.
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Best Gaming Technology provides software solutions for sports betting and will enhance Playtech’s omni-channel offering and drive digitalization of retail clients The company’s clients include Betfred, Codere, Coral, Ladbrokes, Paddy Power Betfair and William Hill and it provides software services for 24, 000 gambling machines, mainly in Europe.
Weizer said “BGT is the leading provider of sports betting software and solutions for gaming and sports betting operators in what is one of the fastest growing verticals of our industry. BGT offers the market’s most sophisticated retail sports solution which is also both modularized and flexible, allowing Playtech to quickly integrate with its own platform.”
BGT provides software for sports-focused self-service betting terminals in betting shops such as William Hill PLC (WMH.LN) and Ladbrokes PLC (LAD.LN) and also operates an online sports betting platform.
Playtech, has been acquisitive since it was founded in the 1990s and in May acquired Swedish online slot machine games provider Quickspin AB for up to EUR50 million.
Earlier this year, the company’s attempt to diversify from sports and casino betting technology into online financial trading came unstuck after regulatory issues scuppered its proposed acquisitions of Ava Trade and Plus500.
