Aristocrat To Acquire Playtech For £2.1 Billion
Gaming machine giant Aristocrat has announced it has offered £2.1 billion to acquire Playtech which has been accepted by the online gaming companies board of directors says Aristocrat.
The deal if successful would represent a 58% premium on the company for shareholders. At present Playech have yet to make an announcement on the offer however a press release from Playtech is expected later this morning.
Aristocrat say they will fund the deal with a new round of share funding which would amount to £864 million alongside raising new debt and cash in reserve.
CEO Trevor Croker of Aristocrat said on the deal: “The proposed combination would bring together Aristocrat’s world-class gaming content and customer and regulatory relationships with Playtech’s industry-leading global online RMG platform (B2B) and European B2C footprint.”
“The business will be ideally positioned to unlock sustainable shareholder value by seizing opportunities in the fast-growing global online RMG segment as they continue to open up, particularly in North America.
“The proposed acquisition continues Aristocrat’s approach of investing in medium to long-term growth and we are extremely excited by the opportunities that this will bring for our shareholders, people, customers, and players.”
