Aristocrat Makes a Gaming Deal to Buy Playtech for $3.7 Billion
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Aristocrat Leisure Ltd. has made a gaming deal to buy gambling developer Playtech for 3.7 billion dollars. This offer has a calculated value of Playtech of $9.35 per share and a premium of 58% for the last closing price on October 15th.
Aristocrat announced that the stock would be sold at an 8.6% discount, and it would raise A$1.3 billion in a share sale to help the process of acquisition, which is a huge and essential step for the company.
The casino machine manufacturer Aristocrat will fulfill their goal in the fast online gambling world, which last year was estimated worth $70 billion worldwide. According to them, this transaction will be one of the biggest B2B ever in the iGaming industry. The Chief Executive Officer of Aristocrat, Trevor Croker, said that this combined group would have the chance to offer a board portfolio for gambling players all across the globe and fantastic player experiences with responsible gambling and exciting innovations.
This deal between Aristocrat and Playtech will be one of many tie-ups in the last couple of months and years, and the goal is to have an early advantage in the enormous gambling industry and online gambling. It is rising again since it was deregulating across the United States, but the number of new players started to rise again after the COVID-19 lockdowns and quarantines.
The company expects that the gambling operator Snaitech, which is Playtech’s omnichannel in Italy, to open new markets across Europe and motivate gambling players while the same is happening around the United States.
Also, last but not least, they are receiving praise and support for this deal from other investors that own a little more than 20% of Playtech’s shares, and everyone seems happy.
Source: ‘’Harry Brampton’’, ‘’Aristocrat to Buy Playtech in $3.7 Billion Gaming Deal’’, ‘’Bloombergquint.com’’, October 18, accessed October 18, 2021.