Playtech Plc, FTSE-listed gambling software development company, has confirmed its acquisition of Best Gaming Technology (BGT) for €138 million, further strengthening its position within the sports betting market.
Best Gaming Technology creates software for self-service betting terminals; machines in betting shops which allow players access to several betting and gaming functions.
The “all-cash” acquisition sees Playtech securing a 90% stake in the Vienna-based company that specializes in retail-based sports betting provisions, multi-channel odds feeds, and risk and liability management.
Under the announced deal, founder of BGT Dr. Armin Sageder is said to remain leader of the company for the next three years. Additionally, Playtech has been granted first right to securing the remaining 105 shares of the company, valued at €55 million.
Earlier this year, the iGaming software company said that it was pursuing a number of acquisitions as it looks to expand its technology offered to customers.
BGT currently provides software and provisions for approximately 24,000 betting machines, having its core markets in the UK, Ireland, Spain, Germany and Austria. Commentators of the industry have stated that the acquisition was carried out by Playtech governance in order to support its ongoing customer omni-channel demands; a key corporate initiative.
Confirming the new acquisition, Mor Weizer, Chief Executive of Playtech, commented: “We believe that the future of gaming is for retail operators to digitise their offering, creating an opportunity to extend beyond retail and into online including web and mobile.”
“This follows the same trends we see in other commercial sectors around the world with the modernisation and digitisation of betting shops not only improving the retail experience but also adding a whole new channel as it integrates into an online offering.”