Playtech software developer is about to spend €600 million on new purchases

Playtech is one of the world’s largest and the best known gambling software developers nowadays. And apparently it is going to be even larger after the announced acquisitions for €600 million (which equals to about $800 million) will be fulfilled. So now the players will be able to visit Playtech powered sites for ever more bingo and sport games developed specially for mobile phones and tablets.

It is only a logical step from the company, after its Chief Executive Mor Weizer said that Playtech had £424 million to spend and about was to start looking for strategic buys. And no longer than this Thursday he stated that the company already has over €500 on the balance, plus it can get about €100 in credit facilities. Altogether this will make a good position for further development and taking the company to a truly next level.

It is a known fact that Playtech is the power behind such betting companies as Betfair and Paddy Power. And now it will possess the poker community. The price of the bargain was as much as €38.3 million. For tis and some other reasons Playtech has experienced thirteen percent jump in first half-earnings on Thursday and there are almost no doubts left that it will meet the full year market expectations. The revenues in general raised up to fifteen percent. And reached €176.8 million and the net profit has risen by eleven percent if compared to the previous year and has reached €69.7 million.

It is also quite impressing that the daily average revenues over the 60 first days of the 3rd quarter were over 10% higher if compared to the same period a year ago. In general shares in Playtech have risen by incredible seventy eight percent over this year.

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